James E. Meeks Sells 26,075 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) Director James E. Meeks sold 26,075 shares of Copart stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $54.14, for a total value of $1,411,700.50. Following the sale, the director now owns 26,075 shares in the company, valued at $1,411,700.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 53.95 on Tuesday. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85. The company’s 50 day moving average price is $52.36 and its 200-day moving average price is $48.43. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 24.41 and a beta of 0.95.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. The company had revenue of $332.70 million for the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. On average, equities analysts forecast that Copart Inc. will post $2.42 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. increased its stake 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 valued at $836,000 after buying an additional 840 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Copart by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 307,772 shares of the company’s stock valued at $12,548,000 after buying an additional 44,468 shares in the last quarter. British Airways Pensions Investment Management Ltd acquired a new stake in shares of Copart during the second quarter valued at approximately $12,096,000. Oregon Public Employees Retirement Fund increased its stake in shares of Copart by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,008 shares of the company’s stock valued at $1,667,000 after buying an additional 826 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Copart by 3.1% in the first quarter. Royal Bank of Canada now owns 480,158 shares of the company’s stock valued at $19,577,000 after buying an additional 14,257 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.
CPRT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a report on Wednesday, August 3rd. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Susquehanna began coverage on Copart in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, Jefferies Group restated a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently 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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