William E. Franklin Sells 100,000 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) insider William E. Franklin sold 100,000 shares of Copart stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total transaction of $5,295,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Copart Inc. (NASDAQ:CPRT) opened at 53.92 on Thursday. Copart Inc. has a 52-week low of $32.26 and a 52-week high of $54.85. The stock has a 50 day moving average of $51.59 and a 200-day moving average of $47.24. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 24.40 and a beta of 0.99.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The company earned $332.70 million during the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts forecast that Copart Inc. will post $2.42 EPS for the current year.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Monday. Stephens set a $61.00 target price on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 22nd. Bank of America Corp. upgraded shares of Copart from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $63.00 in a research note on Friday, September 23rd. Barrington Research cut shares of Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Finally, Jefferies Group lifted their target price on shares of Copart from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 22nd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Copart presently has an average rating of “Hold” and an average target price of $55.57.
Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock valued at $283,924,000 after buying an additional 2,330,220 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Copart during the second quarter valued at approximately $106,925,000. Norges Bank bought a new stake in Copart during the fourth quarter valued at approximately $39,489,000. Robeco Institutional Asset Management B.V. increased its stake in Copart by 1,216.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 786,168 shares of the company’s stock valued at $38,530,000 after buying an additional 726,456 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Copart by 15.6% in the second quarter. Principal Financial Group Inc. now owns 3,585,146 shares of the company’s stock valued at $175,708,000 after buying an additional 484,678 shares during the last quarter. 83.65% of the stock is owned by institutional investors.
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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