Copart Inc. (NASDAQ:CPRT) COO Sean Eldridge sold 22,485 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $53.61, for a total transaction of $1,205,420.85. Following the completion of the transaction, the chief operating officer now directly owns 23,317 shares in the company, valued at approximately $1,250,024.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Copart Inc. (NASDAQ:CPRT) opened at 53.56 on Monday. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85. The company’s 50 day moving average is $51.74 and its 200-day moving average is $47.37. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 24.24 and a beta of 0.95.
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 consensus estimate of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 31.42%. The company had revenue of $332.70 million for the quarter. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts predict that Copart Inc. will post $2.42 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased 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 valued at $283,924,000 after buying an additional 2,330,220 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Copart during the second quarter valued at $106,925,000. Norges Bank acquired a new stake in shares of Copart during the fourth quarter valued at $39,489,000. Robeco Institutional Asset Management B.V. raised its stake in shares of 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 valued at $38,530,000 after buying an additional 726,456 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Copart by 15.6% in the second quarter. Principal Financial Group Inc. now owns 3,585,146 shares of the company’s stock valued at $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 brokerages have issued reports on CPRT. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Monday, September 26th. Stephens set a $61.00 target price on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 22nd. Bank of America Corp. raised shares of Copart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $63.00 in a report on Friday, September 23rd. Jefferies Group raised their target price on shares of Copart from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, Susquehanna initiated coverage on shares of Copart in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Copart has a consensus rating of “Hold” and a consensus price target 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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