Corpay (NYSE:CPAY) Stock Rating Lowered by Wall Street Zen

Corpay (NYSE:CPAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently commented on CPAY. Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Finally, UBS Group dropped their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $396.21.

Corpay Trading Down 3.6%

CPAY stock opened at $280.37 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $308.11 and a two-hundred day moving average price of $320.57. Corpay has a one year low of $269.02 and a one year high of $400.81. The stock has a market cap of $19.80 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $4.55 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts anticipate that Corpay will post 19.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock valued at $11,642,000 after purchasing an additional 1,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corpay by 54.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock valued at $3,693,000 after purchasing an additional 3,739 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in Corpay in the second quarter valued at about $2,518,000. Czech National Bank raised its stake in Corpay by 7.6% in the second quarter. Czech National Bank now owns 17,230 shares of the company’s stock valued at $5,717,000 after purchasing an additional 1,219 shares in the last quarter. Finally, Capital Impact Advisors LLC acquired a new position in Corpay in the first quarter valued at about $8,177,000. Institutional investors and hedge funds 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.