Evercore ISI Lowers Corpay (NYSE:CPAY) Price Target to $345.00

Corpay (NYSE:CPAYGet Free Report) had its price objective cut by analysts at Evercore ISI from $350.00 to $345.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 28.66% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Friday. BMO Capital Markets dropped their price objective on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Citigroup lifted their price objective on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Bank of America lifted their price objective on Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $335.20.

View Our Latest Research Report on CPAY

Corpay Price Performance

Shares of CPAY stock traded down $1.53 during trading hours on Tuesday, reaching $268.14. The company had a trading volume of 41,333 shares, compared to its average volume of 468,613. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $18.84 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The firm has a fifty day moving average of $278.27. Corpay has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAYGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. The company had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. On average, equities research analysts expect that Corpay will post 17.83 earnings per share for the current year.

Institutional Investors Weigh In On Corpay

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank bought a new stake in shares of Corpay in the 1st quarter valued at about $4,831,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Corpay in the 1st quarter valued at about $1,398,000. Czech National Bank bought a new stake in shares of Corpay in the 1st quarter valued at about $3,920,000. Contravisory Investment Management Inc. bought a new stake in shares of Corpay in the 1st quarter valued at about $8,537,000. Finally, Pensionfund Sabic bought a new stake in shares of Corpay in the 1st quarter valued at about $1,327,000. Institutional investors own 98.84% of the company’s stock.

About Corpay

(Get Free Report)

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.

See Also

Analyst Recommendations for Corpay (NYSE:CPAY)

Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.