Corpay (NYSE:CPAY) Stock Rating Lowered by Wolfe Research

Wolfe Research lowered shares of Corpay (NYSE:CPAY - Free Report) from a peer perform rating to an underperform rating in a research note released on Friday, MarketBeat reports. Wolfe Research currently has $295.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada raised their price objective on shares of Corpay from $302.00 to $310.00 and gave the company a sector perform rating in a report on Thursday, May 9th. Robert W. Baird upped their price objective on Corpay from $355.00 to $376.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Citigroup raised their target price on Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Jefferies Financial Group increased their price target on shares of Corpay from $340.00 to $355.00 and gave the company a buy rating in a research note on Friday, April 12th. Finally, BMO Capital Markets lowered their target price on shares of Corpay from $360.00 to $350.00 and set an outperform rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of Moderate Buy and a consensus target price of $341.57.

Corpay Stock Down 1.2 %

Shares of CPAY stock traded down $3.33 during trading hours on Friday, reaching $279.53. 477,180 shares of the stock were exchanged, compared to its average volume of 462,191. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.08 and a beta of 1.21. Corpay has a 12-month low of $220.39 and a 12-month high of $319.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in Corpay during the 1st quarter worth $33,840,000. GAMMA Investing LLC purchased a new stake in shares of Corpay during the 1st quarter worth $149,000. Pensionfund Sabic acquired a new position in shares of Corpay during the 1st quarter worth $1,327,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Corpay in the 1st quarter valued at about $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corpay in the first quarter valued at about $61,000. 98.84% of the stock is currently 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.