Copart, Inc. (NASDAQ:CPRT) Receives Consensus Rating of “Hold” from Brokerages

Copart, Inc. (NASDAQ:CPRT) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $44.50.

Several analysts have commented on CPRT shares. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reissued an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd.

Copart Stock Performance

Shares of CPRT opened at $30.96 on Monday. The business’s fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $36.52. Copart has a 12 month low of $29.97 and a 12 month high of $50.92. The company has a market cap of $28.66 billion, a price-to-earnings ratio of 19.23 and a beta of 1.01.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.42 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Copart will post 1.58 EPS for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caerus Investment Advisors LLC bought a new position in shares of Copart during the 1st quarter valued at $242,000. First Nebraska Trust Co bought a new position in shares of Copart during the 1st quarter valued at $3,282,000. Maripau Wealth Management LLC lifted its holdings in shares of Copart by 14.6% during the 1st quarter. Maripau Wealth Management LLC now owns 11,266 shares of the business services provider’s stock valued at $374,000 after buying an additional 1,437 shares during the period. Allen Capital Group LLC lifted its holdings in shares of Copart by 12.7% during the 1st quarter. Allen Capital Group LLC now owns 91,760 shares of the business services provider’s stock valued at $3,046,000 after buying an additional 10,358 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Copart by 109.5% during the 1st quarter. Glenmede Trust Co. NA now owns 436,043 shares of the business services provider’s stock valued at $14,477,000 after buying an additional 227,870 shares during the period. 85.78% of the stock is owned by 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.