Copart Inc. (NASDAQ:CPRT) has been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $55.57.
Several brokerages have issued reports on CPRT. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Monday. Jefferies Group upped their target price on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 22nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $63.00 in a report on Friday, September 23rd. Barrington Research cut Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Finally, Stephens set a $61.00 price target on Copart and gave the stock a “buy” rating in a report on Thursday, September 22nd.
Shares of Copart (NASDAQ:CPRT) traded down 1.11% during trading on Thursday, reaching $53.32. 159,413 shares of the company’s stock were exchanged. Copart has a 12-month low of $32.26 and a 12-month high of $54.85. The company has a market capitalization of $5.84 billion, a P/E ratio of 24.13 and a beta of 0.99. The stock has a 50-day moving average price of $51.59 and a 200 day moving average price of $47.24.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The company 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 company earned $0.41 earnings per share. Equities analysts expect that Copart will post $2.42 EPS for the current fiscal year.
In other Copart news, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $10,722,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Paul A. Styer sold 7,640 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total value of $376,346.40. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Advisor Group Inc. bought a new stake in Copart during the second quarter worth about $143,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Copart during the second quarter worth about $201,000. Mackenzie Financial Corp bought a new stake in Copart during the second quarter worth about $201,000. Highbridge Capital Management LLC bought a new stake in Copart during the second quarter worth about $206,000. Finally, Ancora Inverness LLC bought a new stake in Copart during the first quarter worth about $207,000. 83.65% of the stock is currently owned by institutional investors.
Copart Company Profile
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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