Copart (NASDAQ:CPRT) Director Sells $553,200.00 in Stock

Copart, Inc. (NASDAQ:CPRT) Director Diane Morefield sold 20,000 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $1,383,000. This represents a 28.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Copart Stock Down 0.9%

Shares of Copart stock opened at $27.58 on Thursday. The business has a fifty day simple moving average of $29.99 and a 200-day simple moving average of $30.69. Copart, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $45.76. The firm has a market cap of $25.55 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. Copart’s revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent research reports. Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Freedom Broker cut their target price on shares of Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 14th. HSBC cut shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Wednesday, September 16th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Copart in a report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Institutional Trading of Copart

A number of hedge funds have recently bought and sold shares of the company. Vest Financial LLC increased its position in shares of Copart by 8.6% in the third quarter. Vest Financial LLC now owns 17,131 shares of the business services provider’s stock worth $467,000 after acquiring an additional 1,358 shares in the last quarter. Sage Private Wealth Group LLC acquired a new stake in shares of Copart during the third quarter valued at approximately $510,000. Magnus Financial Group LLC acquired a new stake in shares of Copart during the third quarter valued at approximately $1,178,000. Axxcess Wealth Management LLC purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $278,000. Finally, Albion Financial Group UT lifted its position in shares of Copart by 2,232.7% in the 3rd quarter. Albion Financial Group UT now owns 2,286 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 2,188 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.