Keefe, Bruyette & Woods Issues Pessimistic Forecast for Corpay (NYSE:CPAY) Stock Price

Key Points

• Keefe, Bruyette & Woods has lowered its price target for Corpay (NYSE:CPAY) from $445.00 to $400.00, maintaining an "outperform" rating despite the downgrade.
• The company's stock has seen mixed analyst ratings, with a current consensus rating of "Moderate Buy" and an average price target of $396.21.
• Corpay reported a 12.9% year-over-year increase in revenue for its latest quarter, reaching $1.10 billion, along with an EPS of $5.13, beating analysts' expectations.

Corpay (NYSE:CPAY - Get Free Report) had its price target decreased by equities researchers at Keefe, Bruyette & Woods from $445.00 to $400.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 39.57% from the stock's previous close.

Several other analysts also recently commented on CPAY. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research report on Sunday. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. UBS Group lowered their target price 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. Finally, Morgan Stanley lowered their target price 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. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $396.21.

Corpay Stock Performance

Shares of CPAY traded down $1.46 during midday trading on Wednesday, reaching $286.60. 195,432 shares of the stock were exchanged, compared to its average volume of 485,160. The company has a market cap of $20.24 billion, a P/E ratio of 19.47, a PEG ratio of 1.12 and a beta of 1.00. The stock's 50 day simple moving average is $315.00 and its 200 day simple moving average is $324.43. Corpay has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY - Get Free Report) last posted 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. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. Corpay's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Corpay will post 19.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPAY. Thrivent Financial for Lutherans lifted its position in shares of Corpay by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,771 shares of the company's stock worth $919,000 after buying an additional 39 shares in the last quarter. Capital Impact Advisors LLC raised its holdings in shares of Corpay by 1.9% during the 2nd quarter. Capital Impact Advisors LLC now owns 23,905 shares of the company's stock worth $8,010,000 after acquiring an additional 455 shares in the last quarter. Kestra Investment Management LLC raised its holdings in shares of Corpay by 55,800.0% during the 2nd quarter. Kestra Investment Management LLC now owns 3,354 shares of the company's stock worth $1,113,000 after acquiring an additional 3,348 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Corpay during the 2nd quarter worth approximately $63,000. Finally, Parr Mcknight Wealth Management Group LLC raised its holdings in shares of Corpay by 3.5% during the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 3,867 shares of the company's stock worth $1,283,000 after acquiring an additional 131 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other 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.

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