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

Key Points

• Corpay has received an upgraded stock rating from equities researchers at Wall Street Zen from "hold" to "buy."
• Analysts have set a consensus price target of $399.43 for Corpay, with most ratings indicating a "Moderate Buy."
• Corpay reported quarterly earnings of $5.13 per share, slightly beating estimates, and a revenue increase of 12.9% year-over-year.

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

A number of other equities research analysts have also recently commented on CPAY. 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. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Morgan Stanley decreased 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, UBS Group cut their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $399.43.

Corpay Stock Up 1.8%

Shares of NYSE:CPAY opened at $297.51 on Friday. Corpay has a 52-week low of $269.02 and a 52-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. The firm has a market capitalization of $21.01 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.12 and a beta of 1.00. The stock has a 50 day moving average price of $316.66 and a 200-day moving average price of $325.00.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data 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. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $4.55 EPS. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that Corpay will post 19.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

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