Jefferies Financial Group Raises Corpay (NYSE:CPAY) Price Target to $375.00

Corpay (NYSE:CPAY) had its price objective raised by research analysts at Jefferies Financial Group from $350.00 to $375.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.07% from the stock’s current price.

CPAY has been the topic of a number of other reports. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Trading Up 0.1 %

NYSE:CPAY traded up $0.31 during mid-day trading on Wednesday, hitting $307.19. The company’s stock had a trading volume of 382,291 shares, compared to its average volume of 461,954. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $21.59 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. The company has a fifty day simple moving average of $294.31.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same quarter last year, the business posted $3.85 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Corpay will post 17.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Corpay during the second quarter worth $515,000. Maven Securities LTD bought a new position in shares of Corpay in the second quarter valued at $666,000. Clearbridge Investments LLC lifted its stake in shares of Corpay by 60.8% in the second quarter. Clearbridge Investments LLC now owns 6,905 shares of the company’s stock valued at $1,840,000 after buying an additional 2,610 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Corpay by 2.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 76,230 shares of the company’s stock valued at $20,308,000 after buying an additional 1,852 shares in the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of Corpay in the second quarter valued at $2,380,000. 98.84% of the stock is owned by institutional investors.

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.