Corpay’s (CPAY) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Corpay (NYSE:CPAY) in a research report released on Thursday, Benzinga reports. Royal Bank of Canada currently has a $310.00 price target on the stock.

Several other brokerages also recently weighed in on CPAY. Barclays lowered their price target on shares of Corpay from $355.00 to $350.00 and set an overweight rating on the stock in a report on Monday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Corpay from $326.00 to $327.00 and gave the company an overweight rating in a report on Thursday. Wells Fargo & Company assumed coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an equal weight rating and a $285.00 target price on the stock. Bank of America lowered their target price on shares of Corpay from $331.00 to $310.00 and set a buy rating on the stock in a report on Thursday. Finally, BMO Capital Markets lowered their target price on shares of Corpay from $360.00 to $350.00 and set an outperform rating on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Corpay presently has an average rating of Moderate Buy and a consensus target price of $330.33.

Corpay Price Performance

Shares of CPAY traded down $1.98 on Thursday, reaching $284.35. The company’s stock had a trading volume of 474,184 shares, compared to its average volume of 468,703. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $19.98 billion, a PE ratio of 21.30, a P/E/G ratio of 1.09 and a beta of 1.20. The company’s 50 day moving average price is $272.68. Corpay has a 12-month low of $220.39 and a 12-month high of $319.94.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter last year, the firm posted $3.85 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Corpay will post 17.82 earnings per share for the current year.

Institutional Investors Weigh In On Corpay

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

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.