Jefferies Financial Group Raises Corpay (NYSE:CPAY) Price Target to $425.00

Corpay (NYSE:CPAY - Get Free Report) had its price target lifted by investment analysts at Jefferies Financial Group from $375.00 to $425.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 23.18% from the company's previous close.

Several other research analysts also recently commented on CPAY. Royal Bank of Canada reiterated a "sector perform" rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Evercore ISI dropped their price objective on Corpay from $350.00 to $345.00 and set an "outperform" rating for the company in a research note on Tuesday, June 25th. Bank of America lifted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday. William Blair raised shares of Corpay to a "strong-buy" rating in a report on Thursday, August 8th. Finally, BMO Capital Markets upped their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $350.42.

Corpay Price Performance

CPAY traded up $2.47 during trading on Wednesday, reaching $345.01. The stock had a trading volume of 514,685 shares, compared to its average volume of 463,600. The business has a 50-day moving average of $309.74 and a 200-day moving average of $291.73. Corpay has a one year low of $220.39 and a one year high of $348.28. 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 stock has a market cap of $24.24 billion, a PE ratio of 25.67, a PEG ratio of 1.33 and a beta of 1.22.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 earnings per share. As a group, equities research analysts anticipate that Corpay will post 17.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Corpay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Corpay during the first quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. purchased a new position in Corpay during the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD bought a new stake in Corpay in the first quarter worth $1,355,377,000. Boston Partners purchased a new stake in shares of Corpay in the first quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in shares of Corpay during the first quarter valued at $553,279,000. 98.84% of the stock is owned by hedge funds and other 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.