Corpay (NYSE:CPAY) Price Target Lowered to $400.00 at Keefe, Bruyette & Woods

Corpay (NYSE:CPAY) had its target price reduced by Keefe, Bruyette & Woods from $445.00 to $400.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on CPAY. Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 target price for the company. Raymond James Financial set a $392.00 price target on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.21.

Corpay Stock Down 0.4%

Shares of Corpay stock opened at $286.82 on Wednesday. The company has a market capitalization of $20.25 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $313.86 and a two-hundred day moving average of $324.17. Corpay has a 1 year low of $269.02 and a 1 year high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $4.55 EPS. Corpay’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Corpay will post 19.76 EPS for the current year.

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently modified their holdings of CPAY. Thrivent Financial for Lutherans raised its stake in Corpay by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,771 shares of the company’s stock valued at $919,000 after buying an additional 39 shares during the period. Capital Impact Advisors LLC raised its position in shares of Corpay by 1.9% in the second quarter. Capital Impact Advisors LLC now owns 23,905 shares of the company’s stock valued at $8,010,000 after purchasing an additional 455 shares during the period. Kestra Investment Management LLC lifted its stake in shares of Corpay by 55,800.0% during the 2nd quarter. Kestra Investment Management LLC now owns 3,354 shares of the company’s stock worth $1,113,000 after buying an additional 3,348 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Corpay in the 2nd quarter valued at about $63,000. Finally, Parr Mcknight Wealth Management Group LLC raised its holdings in Corpay by 3.5% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 3,867 shares of the company’s stock valued at $1,283,000 after acquiring an additional 131 shares during the period. 98.84% of the stock is owned by 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.