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

Key Points

• Corpay was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock.
• The company's stock price opened at $280.37, down 3.6%, and has experienced price target adjustments from various investment analysts, with a consensus target of $396.21.
• In its latest earnings report, Corpay reported $5.13 earnings per share, surpassing expectations, with revenue up 12.9% from the previous year.

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

CPAY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. UBS Group dropped their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Keefe, Bruyette & Woods dropped their price target on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley dropped their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Finally, Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $396.21.

Corpay Stock Down 3.6%

NYSE:CPAY opened at $280.37 on Friday. The firm's 50-day moving average price is $308.11 and its 200-day moving average price is $321.07. The company has a market capitalization of $19.80 billion, a PE ratio of 19.05, a P/E/G ratio of 1.10 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay has a 1-year low of $269.02 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping 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 net margin of 25.17% and a return on equity of 39.13%. The company's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. On average, equities analysts predict that Corpay will post 19.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

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

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