Copart Inc. (NASDAQ:CPRT) Given Average Rating of “Hold” by Brokerages
Shares of Copart Inc. (NASDAQ:CPRT) have received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $55.57.
Several analysts have commented on the company. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday, September 26th. Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday, September 22nd. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $63.00 in a report on Friday, September 23rd. Jefferies Group raised 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. Finally, Susquehanna assumed coverage on Copart in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective on the stock.
In related news, COO Sean Eldridge sold 22,485 shares of Copart stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total transaction of $1,205,420.85. Following the transaction, the chief operating officer now owns 23,317 shares in the company, valued at $1,250,024.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO A Jayson Adair sold 200,000 shares of Copart stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $10,722,000.00. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Advisor Group Inc. bought a new position in shares of Copart during the second quarter worth approximately $143,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Copart during the second quarter worth approximately $201,000. Mackenzie Financial Corp bought a new position in shares of Copart during the second quarter worth approximately $201,000. Highbridge Capital Management LLC bought a new position in shares of Copart during the second quarter worth approximately $206,000. Finally, Ancora Inverness LLC bought a new position in shares of Copart during the first quarter worth approximately $207,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Copart (NASDAQ:CPRT) opened at 53.86 on Thursday. Copart has a 12 month low of $32.26 and a 12 month high of $54.85. The company has a market cap of $6.15 billion, a P/E ratio of 24.37 and a beta of 0.95. The firm has a 50-day moving average price of $51.83 and a 200 day moving average price of $47.57.
Copart (NASDAQ:CPRT) last issued 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. Copart had a return on equity of 31.42% and a net margin of 21.25%. The company had revenue of $332.70 million for the quarter. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts predict that Copart will post $2.42 EPS for the current year.
Copart Company Profile
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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