Citigroup Increases Corpay (NYSE:CPAY) Price Target to $355.00

Corpay (NYSE:CPAY) had its price objective boosted by equities research analysts at Citigroup from $325.00 to $355.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 20.01% from the stock’s previous close.

A number of other equities research analysts also recently commented on CPAY. Barclays raised their target price on Corpay from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Tuesday. Robert W. Baird boosted their price objective on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group lifted their price target on shares of Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, April 12th.

Corpay Price Performance

NYSE CPAY opened at $295.80 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $21.36 billion, a P/E ratio of 22.41, a PEG ratio of 1.13 and a beta of 1.23. Corpay has a 52-week low of $204.04 and a 52-week high of $319.94.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.16 by $0.01. The business had revenue of $937.32 million during the quarter, compared to the consensus estimate of $968.39 million. Corpay had a return on equity of 37.56% and a net margin of 26.13%. On average, analysts predict that Corpay will post 18.17 EPS for the current year.

Institutional Investors Weigh In On Corpay

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. purchased a new stake in shares of Corpay in the first quarter valued at about $34,000. Massmutual Trust Co. FSB ADV purchased a new stake in Corpay in the 1st quarter valued at approximately $61,000. Financial Management Professionals Inc. purchased a new stake in Corpay in the 1st quarter valued at approximately $130,000. GAMMA Investing LLC acquired a new stake in Corpay during the 1st quarter valued at $149,000. Finally, Wedmont Private Capital purchased a new position in Corpay during the first quarter worth $242,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.