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

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

Other analysts also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Oppenheimer started coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Finally, Robert W. Baird set a $440.00 target price on shares of Corpay in a report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $398.07.

Corpay Price Performance

Shares of NYSE CPAY traded down $2.78 during mid-day trading on Friday, reaching $326.69. The company's stock had a trading volume of 332,294 shares, compared to its average volume of 480,146. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10. Corpay has a 52 week low of $264.08 and a 52 week high of $400.81. The stock has a fifty day moving average of $328.49 and a two-hundred day moving average of $343.89. The firm has a market capitalization of $23.03 billion, a PE ratio of 22.91, a P/E/G ratio of 1.35 and a beta of 0.96.

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

Institutional Investors Weigh In On Corpay

Several institutional investors have recently made changes to their positions in the company. Principal Securities Inc. raised its position in Corpay by 10.1% in the 4th quarter. Principal Securities Inc. now owns 962 shares of the company's stock worth $326,000 after purchasing an additional 88 shares during the period. Allworth Financial LP grew its stake in shares of Corpay by 9.9% during the fourth quarter. Allworth Financial LP now owns 487 shares of the company's stock valued at $182,000 after buying an additional 44 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Corpay by 5.8% in the fourth quarter. Principal Financial Group Inc. now owns 91,551 shares of the company's stock worth $30,983,000 after buying an additional 5,012 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Corpay by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company's stock worth $608,000 after acquiring an additional 305 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Corpay by 15.9% during the 4th quarter. Truist Financial Corp now owns 8,389 shares of the company's stock valued at $2,839,000 after acquiring an additional 1,151 shares during the period. 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.