Corpay (NYSE:CPAY) Hits New 52-Week High Following Analyst Upgrade

Corpay, Inc. (NYSE:CPAY) shares reached a new 52-week high on Thursday after BMO Capital Markets raised their price target on the stock from $350.00 to $390.00. BMO Capital Markets currently has an outperform rating on the stock. Corpay traded as high as $320.19 and last traded at $319.40, with a volume of 116932 shares trading hands. The stock had previously closed at $316.65.

Several other brokerages also recently commented on CPAY. JPMorgan Chase & Co. boosted their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their price target on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America cut their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Evercore ISI cut their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $337.92.

Institutional Inflows and Outflows

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

Corpay Stock Up 3.8 %

The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average is $300.62. The firm has a market capitalization of $23.26 billion, a PE ratio of 24.63, a P/E/G ratio of 1.24 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the company posted $3.85 EPS. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

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.