Copart Target of Unusually Large Options Trading (CPRT)

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Copart, Inc. (NASDAQ:CPRT) saw unusually large options trading on Wednesday. Investors acquired 2,941 call options on the stock. This is an increase of approximately 2,031% compared to the average daily volume of 138 call options.

Shares of CPRT opened at $64.79 on Thursday. Copart has a fifty-two week low of $44.61 and a fifty-two week high of $67.54. The stock has a market capitalization of $15.05 billion, a P/E ratio of 37.45, a PEG ratio of 1.54 and a beta of 0.98. The company has a quick ratio of 1.61, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The company had revenue of $553.12 million during the quarter, compared to analyst estimates of $535.62 million. Copart had a return on equity of 30.20% and a net margin of 25.75%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Sell-side analysts expect that Copart will post 2.15 earnings per share for the current year.

In related news, EVP William E. Franklin sold 140,000 shares of Copart stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the sale, the executive vice president now owns 157,967 shares of the company’s stock, valued at approximately $9,231,591.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 15.99% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its holdings in Copart by 16.8% during the 3rd quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock valued at $258,293,000 after buying an additional 719,694 shares in the last quarter. American International Group Inc. grew its holdings in Copart by 1.2% during the 4th quarter. American International Group Inc. now owns 73,082 shares of the business services provider’s stock valued at $3,492,000 after buying an additional 871 shares in the last quarter. Lindbrook Capital LLC purchased a new position in Copart during the 4th quarter valued at about $41,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Copart by 10.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 8,850 shares of the business services provider’s stock valued at $423,000 after buying an additional 858 shares in the last quarter. Finally, YCG LLC grew its holdings in Copart by 56.5% during the 4th quarter. YCG LLC now owns 380,632 shares of the business services provider’s stock valued at $18,187,000 after buying an additional 137,417 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the company. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. SunTrust Banks lifted their price objective on Copart to $67.00 and gave the stock a “buy” rating in a report on Tuesday, February 26th. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. Finally, Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.77.

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Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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