Brokerages Set Copart, Inc. (NASDAQ:CPRT) PT at $41.67

Shares of Copart, Inc. (NASDAQ:CPRT) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $41.50.

Several research firms have weighed in on CPRT. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Barclays set a $25.00 target price on Copart and gave the company an “underweight” rating in a research note on Wednesday. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th.

Copart Price Performance

NASDAQ CPRT opened at $32.99 on Friday. The stock has a market capitalization of $30.54 billion, a PE ratio of 20.49 and a beta of 1.01. Copart has a 1 year low of $26.81 and a 1 year high of $50.11. The business’s 50-day moving average is $29.77 and its 200 day moving average is $32.47.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several institutional investors and hedge funds have recently bought and sold shares of CPRT. Janney Montgomery Scott LLC grew its stake in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after purchasing an additional 41,060 shares during the period. Handelsbanken Fonder AB lifted its position in Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock valued at $16,307,000 after buying an additional 34,855 shares during the period. Mill Capital Management LLC purchased a new position in Copart during the second quarter valued at $12,711,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Copart during the 2nd quarter valued at $1,298,000. Finally, Barbara Oil Co. bought a new stake in shares of Copart during the 2nd quarter valued at $1,585,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.