Copart Inc. (NASDAQ:CPRT) President Vincent W. Mitz sold 200,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $53.27, for a total value of $10,654,000.00. Following the sale, the president now owns 123,830 shares of the company’s stock, valued at approximately $6,596,424.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 53.02 on Friday. The stock has a 50 day moving average price of $51.65 and a 200-day moving average price of $47.28. Copart Inc. has a 12-month low of $32.26 and a 12-month high of $54.85. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 23.99 and a beta of 0.99.
Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 31.42%. The company earned $332.70 million during the quarter. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Equities analysts anticipate that Copart Inc. will post $2.42 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock worth $283,924,000 after buying an additional 2,330,220 shares during the period. William Blair Investment Management LLC purchased a new position in Copart during the second quarter worth about $106,925,000. Norges Bank purchased a new position in Copart during the fourth quarter worth about $39,489,000. Robeco Institutional Asset Management B.V. boosted its position in Copart by 1,216.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 786,168 shares of the company’s stock worth $38,530,000 after buying an additional 726,456 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Copart by 15.6% in the second quarter. Principal Financial Group Inc. now owns 3,585,146 shares of the company’s stock worth $175,708,000 after buying an additional 484,678 shares during the period. Institutional investors own 83.65% of the company’s stock.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $63.00 in a research report on Friday, September 23rd. Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a research report on Thursday, September 22nd. Jefferies Group increased their price objective on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 22nd. Finally, Susquehanna assumed coverage on Copart in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.57.
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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