Weiss Ratings Reaffirms Buy (B-) Rating for Corpay (NYSE:CPAY)

Key Points

• Weiss Ratings has reaffirmed a Buy (B-) rating for Corpay (NYSE:CPAY), indicating confidence in the stock's potential.
• Corpay's stock price has a consensus target of $396.21, with numerous analysts rating it as a "Moderate Buy."
• The company reported a quarterly earnings per share of $5.13, surpassing estimates, with a year-over-year revenue increase of 12.9%.

Corpay (NYSE:CPAY - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently commented on CPAY. 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. Keefe, Bruyette & Woods decreased their target price on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 1st. Morgan Stanley decreased 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 report on Monday, August 11th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Finally, UBS Group decreased their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $396.21.

Corpay Price Performance

Shares of Corpay stock traded up $3.20 on Wednesday, hitting $292.22. 288,270 shares of the company traded hands, compared to its average volume of 448,590. The firm's 50-day simple moving average is $309.48 and its 200 day simple moving average is $322.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a market cap of $20.63 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.10 and a beta of 0.97. Corpay has a 12-month low of $269.02 and a 12-month high of $400.81.

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 the consensus estimate of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $4.55 EPS. Analysts expect that Corpay will post 19.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of large investors have recently modified their holdings of CPAY. Wedmont Private Capital boosted its stake in shares of Corpay by 3.2% during the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after purchasing an additional 34 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Corpay by 15.2% during the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock worth $662,000 after acquiring an additional 250 shares in the last quarter. GAMMA Investing LLC boosted its stake in Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after acquiring an additional 145 shares in the last quarter. SG Americas Securities LLC boosted its stake in Corpay by 265.4% during the first quarter. SG Americas Securities LLC now owns 12,636 shares of the company's stock worth $4,406,000 after acquiring an additional 9,178 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Corpay by 1.8% during the first quarter. Handelsbanken Fonder AB now owns 21,503 shares of the company's stock worth $7,499,000 after acquiring an additional 383 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.