Corpay, Inc. (NYSE:CPAY) Receives Average Rating of “Moderate Buy” from Analysts

Corpay, Inc. (NYSE:CPAY) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $395.5833.

A number of research firms have weighed in on CPAY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Raymond James Financial set a $392.00 price target on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Morgan Stanley cut their price objective on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Keefe, Bruyette & Woods cut their price target on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th.

Corpay Stock Performance

CPAY opened at $283.22 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay has a 12-month low of $269.02 and a 12-month high of $400.81. The firm has a 50 day moving average of $303.82 and a two-hundred day moving average of $318.00. The firm has a market capitalization of $20.00 billion, a PE ratio of 19.24, a P/E/G ratio of 1.09 and a beta of 0.97.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 earnings per share. On average, analysts anticipate that Corpay will post 19.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its holdings in Corpay by 1,302.3% during the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock worth $425,054,000 after purchasing an additional 1,131,975 shares in the last quarter. Norges Bank purchased a new position in Corpay during the 2nd quarter worth approximately $266,246,000. Bessemer Group Inc. grew its stake in Corpay by 4,811.9% during the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock worth $194,326,000 after buying an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. increased its position in Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after buying an additional 472,147 shares during the period. Finally, Nuveen LLC purchased a new stake in Corpay in the first quarter valued at approximately $104,428,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

About Corpay

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.