Copart (CPRT) Upgraded to Buy at BidaskClub

Copart (NASDAQ:CPRT) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other brokerages have also recently commented on CPRT. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, November 21st. J P Morgan Chase & Co boosted their price target on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. CJS Securities reiterated an “outperform” rating and issued a $42.00 price target on shares of Copart in a research note on Thursday, October 5th. Robert W. Baird boosted their price target on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Gabelli reiterated a “hold” rating on shares of Copart in a research note on Friday, November 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $41.40.

Copart (NASDAQ:CPRT) opened at $43.39 on Thursday. The company has a market capitalization of $9,943.76, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. Copart has a one year low of $27.28 and a one year high of $43.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.23 and a current ratio of 2.26.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The company had revenue of $419.17 million for the quarter, compared to analysts’ expectations of $377.37 million. Copart had a return on equity of 29.96% and a net margin of 20.01%. During the same quarter in the previous year, the firm posted $0.29 earnings per share. sell-side analysts expect that Copart will post 1.5 EPS for the current year.

In related news, Director Matt Blunt sold 116,667 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total value of $4,895,347.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 160,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the sale, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. In the last quarter, insiders sold 476,667 shares of company stock worth $17,252,147. Insiders own 16.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. increased its holdings in Copart by 100.0% in the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after buying an additional 2,047 shares during the last quarter. Parallel Advisors LLC increased its holdings in Copart by 2.6% in the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after buying an additional 111 shares during the last quarter. IFP Advisors Inc increased its holdings in Copart by 216.3% in the third quarter. IFP Advisors Inc now owns 5,491 shares of the business services provider’s stock valued at $189,000 after buying an additional 3,755 shares during the last quarter. Crow Point Partners LLC bought a new stake in Copart in the third quarter valued at about $198,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Copart in the second quarter valued at about $200,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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About Copart

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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