A number of other research analysts also recently issued reports on the company. Bank of America Corp. upgraded Copart from a neutral rating to a buy rating and increased their price objective for the stock from $52.00 to $63.00 in a report on Friday, September 23rd. Barrington Research downgraded Copart from an outperform rating to a market perform rating in a report on Friday, September 23rd. Jefferies Group increased their price objective on Copart from $53.00 to $55.00 and gave the stock a hold rating in a report on Thursday, September 22nd. Zacks Investment Research downgraded Copart from a buy rating to a hold rating in a report on Wednesday, September 14th. Finally, Susquehanna assumed coverage on Copart in a research note on Thursday, August 25th. They issued a neutral rating and a $53.00 price target for the company. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Copart has a consensus rating of Hold and a consensus target price of $55.57.
Shares of Copart (NASDAQ:CPRT) opened at 54.05 on Thursday. The company’s 50 day moving average is $51.46 and its 200-day moving average is $47.14. The company has a market capitalization of $5.92 billion, a PE ratio of 24.46 and a beta of 0.99. Copart has a 52 week low of $32.26 and a 52 week high of $54.85.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business earned $332.70 million during the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, analysts expect that Copart will post $2.41 EPS for the current fiscal year.
In related news, insider William E. Franklin sold 100,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $52.95, for a total value of $5,295,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert H. Vannuccini sold 12,577 shares of the stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total value of $628,346.92. Following the completion of the sale, the senior vice president now owns 9,703 shares in the company, valued at approximately $484,761.88. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CPRT. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Copart by 5.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,060 shares of the company’s stock worth $836,000 after buying an additional 840 shares during the period. Goldman Sachs Group Inc. boosted its stake in Copart by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 307,772 shares of the company’s stock worth $12,548,000 after buying an additional 44,468 shares during the period. Norges Bank acquired a new stake in Copart during the fourth quarter worth $39,489,000. British Airways Pensions Investment Management Ltd acquired a new stake in Copart during the second quarter worth $12,096,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Copart by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,008 shares of the company’s stock worth $1,667,000 after buying an additional 826 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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