Corpay (NYSE:CPAY) Given New $325.00 Price Target at Morgan Stanley

Corpay (NYSE:CPAY) had its price objective boosted by Morgan Stanley from $275.00 to $325.00 in a research note released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages also recently commented on CPAY. Wells Fargo & Company increased their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price target 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. Finally, Barclays raised their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Stock Performance

NYSE CPAY opened at $332.02 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 1.39 and a beta of 1.22. The firm’s 50 day simple moving average is $320.15 and its 200 day simple moving average is $294.12. Corpay has a 1 year low of $220.39 and a 1 year high of $355.47.

Corpay (NYSE:CPAY) last posted its quarterly 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 for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.85 EPS. As a group, research analysts expect that Corpay will post 17.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Vanguard Group Inc. acquired a new stake in Corpay in the first quarter worth $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the first quarter worth $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay in the first quarter worth $1,355,377,000. Boston Partners acquired a new stake in Corpay in the first quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in Corpay in the first quarter worth $553,279,000. Institutional investors own 98.84% of the company’s stock.

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.