CJS Securities Reiterates “Outperform” Rating for Copart, Inc. (CPRT)
Copart, Inc. (NASDAQ:CPRT)‘s stock had its “outperform” rating reaffirmed by analysts at CJS Securities in a research report issued to clients and investors on Thursday. They currently have a $42.00 price objective on the business services provider’s stock. CJS Securities’ target price points to a potential upside of 19.15% from the company’s previous close.
Several other equities research analysts have also issued reports on the company. Robert W. Baird lifted their price target on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $33.00 price target on shares of Copart in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.33.
Copart (NASDAQ:CPRT) opened at 35.24 on Thursday. Copart has a 12-month low of $25.37 and a 12-month high of $35.27. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 21.23 and a beta of 1.19. The company has a 50-day moving average of $33.03 and a 200 day moving average of $34.71.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The company had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities analysts anticipate that Copart will post $1.43 earnings per share for the current year.
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In related news, Director James E. Meeks sold 160,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the sale, the director now directly owns 3,500 shares in the company, valued at approximately $120,155. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the sale, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CPRT. Suntrust Banks Inc. acquired a new stake in Copart in the 1st quarter worth approximately $207,000. UBS Asset Management Americas Inc. lifted its holdings in Copart by 6.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 73,137 shares of the business services provider’s stock worth $4,529,000 after purchasing an additional 4,202 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Copart by 7.5% in the 1st quarter. Prudential Financial Inc. now owns 63,529 shares of the business services provider’s stock worth $3,934,000 after purchasing an additional 4,440 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Copart by 35.9% in the 1st quarter. Victory Capital Management Inc. now owns 26,797 shares of the business services provider’s stock worth $1,660,000 after purchasing an additional 7,073 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Copart by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 16,826 shares of the business services provider’s stock worth $1,042,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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