Corpay (NYSE:CPAY) Stock Rating Lowered by Wall Street Zen

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 note issued to investors on Tuesday.

Several other analysts also recently issued reports on the stock. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. UBS Group dropped their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Oppenheimer started coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating on the stock. Raymond James Financial reissued an "outperform" rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $401.86.

Corpay Price Performance

NYSE CPAY traded down $11.35 on Tuesday, reaching $324.33. The company's stock had a trading volume of 430,162 shares, compared to its average volume of 474,299. Corpay has a twelve month low of $265.06 and a twelve month high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The firm's 50 day moving average is $332.90 and its two-hundred day moving average is $342.37. The stock has a market cap of $22.86 billion, a PE ratio of 22.74, a PEG ratio of 1.39 and a beta of 0.95.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.10 EPS. As a group, sell-side analysts predict that Corpay will post 19.76 EPS for the current year.

Hedge Funds Weigh In On Corpay

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after purchasing an additional 119,987 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after buying an additional 472,147 shares in the last quarter. Boston Partners lifted its position in shares of Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after buying an additional 118,542 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

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.