Keefe, Bruyette & Woods Increases Corpay (NYSE:CPAY) Price Target to $400.00

Corpay (NYSE:CPAY) had its target price raised by stock analysts at Keefe, Bruyette & Woods from $380.00 to $400.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.08% from the stock’s current price.

Several other equities research analysts also recently commented on CPAY. Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Barclays increased their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. BMO Capital Markets increased their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley increased their price objective on Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $356.79.

Corpay Price Performance

Shares of CPAY traded up $23.61 during midday trading on Friday, reaching $370.11. The stock had a trading volume of 414,644 shares, compared to its average volume of 468,577. The firm’s 50 day moving average price is $324.21 and its 200-day moving average price is $295.70. Corpay has a 52 week low of $221.37 and a 52 week high of $375.35. The company has a market capitalization of $25.70 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.30 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.85 EPS. On average, analysts forecast that Corpay will post 17.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corpay

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in Corpay in the first quarter valued at about $316,000. Nordea Investment Management AB acquired a new position in shares of Corpay in the 1st quarter worth approximately $1,674,000. Texas Permanent School Fund Corp bought a new position in shares of Corpay during the 1st quarter worth approximately $4,602,000. Empirical Finance LLC acquired a new stake in Corpay in the 1st quarter valued at $829,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Corpay in the first quarter valued at $966,000. 98.84% of the stock is currently owned by institutional investors.

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.