Corpay (NYSE:CPAY) Given New $310.00 Price Target at Royal Bank of Canada

Corpay (NYSE:CPAY) had its target price increased by Royal Bank of Canada from $302.00 to $310.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 10.45% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Barclays increased their price target on Corpay from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group boosted their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Citigroup raised their price target on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird lifted their target price on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, BMO Capital Markets dropped their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $350.17.

Corpay Stock Down 7.8 %

NYSE CPAY traded down $23.84 on Thursday, hitting $280.66. 511,573 shares of the stock were exchanged, compared to its average volume of 438,803. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.14 and a beta of 1.21.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.16 by $0.01. The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $968.39 million. Corpay had a return on equity of 37.56% and a net margin of 26.13%. On average, analysts predict that Corpay will post 18.16 earnings per share for the current year.

Institutional Trading of Corpay

A number of large investors have recently made changes to their positions in CPAY. Blair William & Co. IL purchased a new position in Corpay in the 1st quarter worth about $516,000. Wilkins Investment Counsel Inc. acquired a new stake in shares of Corpay during the 1st quarter worth approximately $5,924,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Corpay in the 1st quarter valued at $25,389,000. Monetta Financial Services Inc. acquired a new stake in Corpay in the first quarter valued at approximately $833,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Corpay during the 1st quarter worth $845,000. 98.84% of the stock is currently owned by 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.