Copart, Inc. (NASDAQ:CPRT) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Copart, Inc. (NASDAQ:CPRT) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.90.

Several brokerages recently issued reports on CPRT. Barclays set a $25.00 price objective on Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Barrington Research raised Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Friday, September 11th. HSBC cut Copart from a “buy” rating to a “hold” rating and lowered their price target for the company from $46.00 to $36.00 in a research note on Wednesday, September 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Tuesday, October 27th.

Insider Buying and Selling

In other news, Director Diane Morefield sold 20,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the transaction, the director owned 50,000 shares in the company, valued at $1,383,000. This represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Copart

Several institutional investors and hedge funds have recently modified their holdings of CPRT. Alpha Family Trust raised its holdings in Copart by 3.4% during the first quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock valued at $366,000 after buying an additional 360 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Copart by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after acquiring an additional 369 shares during the last quarter. North Dakota State Investment Board raised its stake in shares of Copart by 1.4% in the 3rd quarter. North Dakota State Investment Board now owns 26,664 shares of the business services provider’s stock valued at $727,000 after acquiring an additional 370 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Copart by 62.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,076 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 414 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Copart by 1.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,183 shares of the business services provider’s stock worth $660,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $32.17 on Thursday. The business’s 50-day moving average is $29.42 and its 200-day moving average is $32.09. The company has a market capitalization of $29.80 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 1.58 and a beta of 1.01. Copart has a fifty-two week low of $25.72 and a fifty-two week high of $42.05.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts expect that Copart will post 1.63 earnings per share for the current fiscal year.

About Copart

Copart, Inc. operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment. The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation. Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.