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

Corpay (NYSE:CPAY) had its target price lifted by equities researchers at Royal Bank of Canada from $302.00 to $310.00 in a report released on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 10.45% from the company’s current price.

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

Corpay Price Performance

CPAY traded down $23.84 during trading on Thursday, reaching $280.66. The stock had a trading volume of 511,573 shares, compared to its average volume of 438,803. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. Corpay has a one year low of $220.39 and a one year high of $319.94.

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

Institutional Inflows and Outflows

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

Corpay Company Profile

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.