Freedom Broker Cuts Copart (NASDAQ:CPRT) Price Target to $36.00

Copart (NASDAQ:CPRT) had its price target decreased by investment analysts at Freedom Broker from $39.00 to $36.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Freedom Broker’s price objective would suggest a potential upside of 13.46% from the company’s current price.

CPRT has been the subject of a number of other research reports. Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Friday. Barclays set a $25.00 target price on Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a report on Thursday, September 3rd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.38.

Copart Trading Up 5.9%

Shares of NASDAQ CPRT traded up $1.78 during mid-day trading on Monday, reaching $31.73. 11,280,310 shares of the company’s stock were exchanged, compared to its average volume of 10,224,144. Copart has a twelve month low of $26.81 and a twelve month high of $48.77. The business has a fifty day simple moving average of $30.35 and a 200 day simple moving average of $32.05. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.43 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. Equities research analysts predict that Copart will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several hedge funds and other institutional investors have recently bought and sold shares of CPRT. Sequoia Financial Advisors LLC boosted its stake in shares of Copart by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after buying an additional 369 shares during the period. National Pension Service raised its holdings in Copart by 5.0% in the 2nd quarter. National Pension Service now owns 1,508,427 shares of the business services provider’s stock valued at $42,523,000 after acquiring an additional 71,785 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Copart by 11.6% in the 2nd quarter. Engineers Gate Manager LP now owns 540,194 shares of the business services provider’s stock valued at $15,228,000 after acquiring an additional 56,237 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Copart by 46.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 513,401 shares of the business services provider’s stock valued at $14,473,000 after acquiring an additional 163,280 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Copart by 22.0% during the second quarter. NewEdge Advisors LLC now owns 25,842 shares of the business services provider’s stock worth $729,000 after buying an additional 4,652 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Company Profile

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.