Copart, Inc. (CPRT) Hits New 52-Week High at $35.09
Copart, Inc. (NASDAQ:CPRT) shares reached a new 52-week high on Thursday . The stock traded as high as $35.09 and last traded at $35.04, with a volume of 457,874 shares traded. The stock had previously closed at $34.78.
Several research analysts recently weighed in on CPRT shares. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and set a $33.00 price target on shares of Copart in a research report on Thursday, July 6th. Robert W. Baird upped their price target on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Finally, CJS Securities restated an “outperform” rating and set a $42.00 price target on shares of Copart in a research report on Thursday. 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 company. The stock presently has an average rating of “Hold” and an average target price of $37.33.
The firm has a 50-day moving average of $33.03 and a 200-day moving average of $34.71. The company has a market capitalization of $8.13 billion, a PE ratio of 21.23 and a beta of 1.19.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 31.83%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts forecast that Copart, Inc. will post $1.43 earnings per share for the current year.
In other Copart news, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the sale, the director now owns 3,500 shares of the company’s stock, valued at $120,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now directly owns 47,660 shares in the company, valued at approximately $1,635,691.20. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CPRT. Winslow Evans & Crocker Inc. purchased a new stake in shares of Copart in the second quarter valued at about $100,000. Salem Investment Counselors Inc. lifted its holdings in shares of Copart by 100.0% in the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 2,047 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Copart by 115.6% in the first quarter. Parallel Advisors LLC now owns 4,340 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,327 shares in the last quarter. Smithfield Trust Co. lifted its holdings in shares of Copart by 104.8% in the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 2,749 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Copart by 136.5% in the second quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 3,249 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.
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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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