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

Corpay (NYSE:CPAY) had its target price increased by Citigroup from $325.00 to $355.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

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

Corpay Price Performance

NYSE:CPAY opened at $294.41 on Wednesday. Corpay has a 1 year low of $204.04 and a 1 year high of $319.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $21.26 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.23.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in shares of Corpay in the 1st quarter worth $34,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay in the 1st quarter valued at $61,000. Financial Management Professionals Inc. purchased a new position in Corpay in the 1st quarter worth about $130,000. GAMMA Investing LLC acquired a new stake in Corpay during the 1st quarter worth about $149,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in Corpay during the 1st quarter worth about $229,000. Institutional investors 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.