Corpay (NYSE:CPAY) Price Target Increased to $390.00 by Analysts at BMO Capital Markets

Corpay (NYSE:CPAY) had its price objective upped by analysts at BMO Capital Markets from $350.00 to $390.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 17.82% from the company’s previous close.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 target price on the stock. Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Bank of America lowered their price objective on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $337.92.

Corpay Stock Up 3.8 %

NYSE:CPAY opened at $331.01 on Thursday. The firm has a market cap of $23.26 billion, a P/E ratio of 24.63, a PEG ratio of 1.24 and a beta of 1.22. Corpay has a 52-week low of $220.39 and a 52-week high of $331.10. The stock’s fifty day moving average price is $300.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.85 EPS. As a group, equities analysts anticipate that Corpay will post 17.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Chevy Chase Trust Holdings LLC acquired a new stake in Corpay in the first quarter valued at approximately $12,335,000. Empirical Finance LLC purchased a new position in Corpay in the first quarter valued at about $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Corpay in the first quarter valued at about $1,013,000. Agate Pass Investment Management LLC acquired a new stake in Corpay during the 1st quarter valued at approximately $3,937,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Corpay in the 1st quarter valued at approximately $949,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.