Copart Inc. (CPRT) Director James E. Meeks Sells 64,222 Shares of Stock
Copart Inc. (NASDAQ:CPRT) Director James E. Meeks sold 64,222 shares of Copart stock in a transaction on Friday, October 14th. The shares were sold at an average price of $54.09, for a total value of $3,473,767.98. Following the completion of the transaction, the director now owns 13,925 shares of the company’s stock, valued at approximately $753,203.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 54.12 on Wednesday. Copart Inc. has a 12-month low of $32.26 and a 12-month high of $54.85. The company has a 50-day moving average price of $52.41 and a 200-day moving average price of $48.47. The company has a market cap of $6.18 billion, a P/E ratio of 24.49 and a beta of 0.95.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business 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 company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, analysts predict that Copart Inc. will post $2.42 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the company. 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 research report on Monday, September 26th. Stephens set a $61.00 target price on Copart and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $63.00 in a research report on Friday, September 23rd. Jefferies Group restated a “hold” rating on shares of Copart in a research report on Thursday, August 4th. Finally, Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Copart currently has an average rating of “Hold” and an average target price of $55.57.
Large investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock worth $283,924,000 after buying an additional 2,330,220 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Copart by 15.6% in the second quarter. Principal Financial Group Inc. now owns 3,585,146 shares of the company’s stock worth $175,708,000 after buying an additional 484,678 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Copart by 3.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,455,910 shares of the company’s stock worth $120,364,000 after buying an additional 87,061 shares in the last quarter. Nicholas Co. Inc. WI increased its stake in shares of Copart by 1.0% in the second quarter. Nicholas Co. Inc. WI now owns 2,195,935 shares of the company’s stock worth $107,622,000 after buying an additional 22,585 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Copart during the second quarter worth $106,925,000. 80.14% of the stock is currently owned by institutional investors and hedge funds.
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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