Corpay (NYSE:CPAY) Cut to Hold at Wall Street Zen

Key Points

• Corpay (NYSE:CPAY) was downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen, reflecting a shift in market sentiment regarding the stock's performance.
• Despite the downgrade, Corpay has received a mix of ratings from other analysts, with a consensus target price of $399.43 and nine buy ratings as opposed to five hold ratings.
• Corpay posted earnings of $5.13 per share for the quarter, exceeding analysts' estimates, and recorded a revenue increase of 12.9% year-over-year.

Corpay (NYSE:CPAY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

CPAY has been the topic of several other research reports. UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. Morgan Stanley cut their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Finally, Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Trading Down 1.1%

Shares of CPAY stock opened at $301.78 on Friday. The stock's fifty day moving average price is $319.80 and its two-hundred day moving average price is $326.46. The company has a market cap of $21.31 billion, a PE ratio of 20.50, a P/E/G ratio of 1.16 and a beta of 1.00. Corpay has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 EPS. Equities analysts predict that Corpay will post 19.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC lifted its holdings in Corpay by 56.7% during the 2nd quarter. CVA Family Office LLC now owns 94 shares of the company's stock worth $31,000 after buying an additional 34 shares during the period. Hazlett Burt & Watson Inc. bought a new position in shares of Corpay in the 2nd quarter worth about $33,000. Ameritas Advisory Services LLC bought a new position in shares of Corpay in the 2nd quarter worth about $37,000. Zions Bancorporation National Association UT bought a new position in shares of Corpay in the 1st quarter worth about $41,000. Finally, Rakuten Securities Inc. bought a new position in shares of Corpay in the 1st quarter worth about $45,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.

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