Corpay (NYSE:CPAY) Downgraded by Wall Street Zen to Hold

Key Points

• Corpay has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the company's stock performance.
• Wells Fargo & Company has reduced its price target for Corpay from $375.00 to $339.00, while other analysts maintain varying price targets, with a consensus target of $396.33.
• Corpay reported an earnings per share (EPS) of $5.13, exceeding expectations and indicating a 12.9% increase in quarterly revenue compared to the same period last year.

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

Other analysts have also issued reports about the company. Wells Fargo & Company cut their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target on the stock. Finally, Oppenheimer initiated coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and a consensus price target of $396.33.

Corpay Stock Down 0.8%

NYSE:CPAY opened at $317.53 on Friday. Corpay has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.21 and a beta of 0.96. The stock has a 50-day moving average price of $327.66 and a two-hundred day moving average price of $336.37.

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

Institutional Trading of Corpay

Institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC raised its stake in Corpay by 56.7% in the second quarter. CVA Family Office LLC now owns 94 shares of the company's stock valued at $31,000 after buying an additional 34 shares during the period. Colonial Trust Co SC raised its stake in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in Corpay in the second quarter valued at approximately $33,000. Ameritas Advisory Services LLC bought a new stake in Corpay in the second quarter valued at approximately $37,000. Finally, Zions Bancorporation National Association UT bought a new stake in Corpay in the first quarter valued at approximately $41,000. Institutional investors own 98.84% of the company's stock.

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.

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