Copart, Inc. (CPRT) Sets New 12-Month High at $36.59
Copart, Inc. (NASDAQ:CPRT)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $36.59 and last traded at $36.52, with a volume of 580,747 shares trading hands. The stock had previously closed at $36.39.
Several equities analysts have recently weighed in on CPRT shares. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price objective on shares of Copart in a research report on Thursday, July 6th. CJS Securities reissued an “outperform” rating and issued a $42.00 price objective on shares of Copart in a research report on Thursday, October 5th. Robert W. Baird increased their price objective on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.33.
The firm’s 50-day moving average is $34.14 and its 200 day moving average is $31.77. The company has a market cap of $8.40 billion, a P/E ratio of 21.93 and a beta of 1.19.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping the Zacks’ 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. On average, equities research analysts predict that Copart, Inc. will post $1.43 EPS for the current fiscal year.
In other news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the sale, the director now directly owns 3,500 shares in the company, valued at approximately $120,155. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction 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 sale, the president now owns 47,660 shares in the company, valued at $1,635,691.20. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. bought a new stake in shares of Copart during the 2nd quarter worth $100,000. Salem Investment Counselors Inc. raised its stake in shares of Copart by 100.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock worth $130,000 after purchasing an additional 2,047 shares during the period. BlueCrest Capital Management Ltd bought a new stake in shares of Copart during the 1st quarter worth $254,000. Parallel Advisors LLC raised its stake in shares of Copart by 2.6% during the 2nd quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after purchasing an additional 111 shares during the period. Finally, Smithfield Trust Co. raised its stake in shares of Copart by 104.8% during the 2nd quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,749 shares during the period. Institutional investors own 79.57% of the company’s stock.
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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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