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

Corpay, Inc. (NYSE:CPAY)’s share price hit a new 52-week high on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $380.00 to $400.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Corpay traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares. The stock had previously closed at $346.50.

CPAY has been the topic of several other research reports. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Morgan Stanley boosted their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America boosted their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $356.79.

Institutional Trading of Corpay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cypress Capital Group purchased a new stake in Corpay in the 3rd quarter worth about $555,000. King Luther Capital Management Corp raised its position in Corpay by 73.9% in the 3rd quarter. King Luther Capital Management Corp now owns 12,729 shares of the company’s stock worth $3,981,000 after purchasing an additional 5,408 shares during the period. Retireful LLC purchased a new stake in Corpay in the 3rd quarter worth about $702,000. First Horizon Advisors Inc. raised its position in Corpay by 4.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,825 shares of the company’s stock worth $571,000 after purchasing an additional 81 shares during the period. Finally, Factorial Partners LLC raised its position in Corpay by 5.9% in the 3rd quarter. Factorial Partners LLC now owns 16,100 shares of the company’s stock worth $5,035,000 after purchasing an additional 900 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

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 company has a market capitalization of $25.41 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The stock’s 50-day moving average is $325.93 and its two-hundred day moving average is $296.50.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 EPS. On average, equities analysts predict that Corpay, Inc. will post 17.96 EPS for the current 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.