Copart, Inc. (NASDAQ:CPRT) Receives $47.60 Consensus Price Target from Analysts

Copart, Inc. (NASDAQ:CPRT) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $47.60.

A number of equities analysts have issued reports on the company. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays reissued an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a research note on Friday, November 21st. JPMorgan Chase & Co. reduced their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Finally, Robert W. Baird decreased their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st.

Copart Trading Down 0.1%

CPRT stock opened at $40.30 on Tuesday. The firm has a market cap of $39.01 billion, a PE ratio of 24.57 and a beta of 1.08. The stock has a 50-day moving average price of $39.60 and a 200-day moving average price of $43.05. Copart has a 1-year low of $37.41 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. On average, analysts forecast that Copart will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Copart

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Copart during the 2nd quarter valued at about $549,448,000. AQR Capital Management LLC raised its stake in shares of Copart by 298.2% in the third quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock worth $217,243,000 after purchasing an additional 3,660,031 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Copart by 2,266.7% in the third quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock valued at $165,895,000 after purchasing an additional 3,533,133 shares in the last quarter. Akre Capital Management LLC lifted its holdings in shares of Copart by 253.1% in the third quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after purchasing an additional 3,036,760 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Copart by 75.3% during the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after buying an additional 3,007,820 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.