Vincent W. Mitz Sells 200,000 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $53.27, for a total value of $10,654,000.00. Following the completion of the sale, the president now owns 123,830 shares of the company’s stock, valued at $6,596,424.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Copart Inc. (NASDAQ:CPRT) opened at 53.92 on Thursday. The stock has a market cap of $5.91 billion, a PE ratio of 24.40 and a beta of 0.99. Copart Inc. has a 12 month low of $32.26 and a 12 month high of $54.85. The company’s 50 day moving average price is $51.59 and its 200 day moving average price is $47.24.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Copart had a return on equity of 31.42% and a net margin of 21.25%. The company earned $332.70 million during the quarter. During the same period last year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Copart Inc. will post $2.42 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CPRT. Los Angeles Capital Management & Equity Research Inc. raised its position in Copart by 5.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,060 shares of the company’s stock worth $836,000 after buying an additional 840 shares during the period. Goldman Sachs Group Inc. raised its position in Copart by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 307,772 shares of the company’s stock worth $12,548,000 after buying an additional 44,468 shares during the period. Norges Bank bought a new position in Copart during the fourth quarter worth $39,489,000. British Airways Pensions Investment Management Ltd bought a new position in Copart during the second quarter worth $12,096,000. Finally, Oregon Public Employees Retirement Fund raised its position in Copart by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,008 shares of the company’s stock worth $1,667,000 after buying an additional 826 shares during the period. 83.65% of the stock is owned by institutional investors.
A number of brokerages have weighed in on CPRT. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Monday. Jefferies Group boosted their price objective on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 22nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $63.00 in a report on Friday, September 23rd. Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Finally, Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday, September 22nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $55.57.
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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