Several other research firms have also commented on CPRT. Guggenheim raised shares of Copart from a neutral rating to a buy rating and set a $93.00 price objective for the company in a research note on Friday, October 18th. Barrington Research reissued a hold rating on shares of Copart in a research note on Wednesday, September 11th. ValuEngine lowered shares of Copart from a buy rating to a hold rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price objective on shares of Copart from $62.00 to $71.00 and gave the company an underweight rating in a research note on Friday, September 6th. Finally, Robert W. Baird set a $85.00 price objective on shares of Copart and gave the company a buy rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $80.40.
Shares of NASDAQ CPRT traded down $0.16 during mid-day trading on Friday, reaching $81.46. The company’s stock had a trading volume of 1,541,200 shares, compared to its average volume of 1,340,618. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.36 and a current ratio of 2.44. The stock has a market capitalization of $19.11 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.54 and a beta of 0.81. The stock has a 50-day moving average of $81.80 and a two-hundred day moving average of $75.82. Copart has a 1-year low of $44.61 and a 1-year high of $85.31.
Several hedge funds and other institutional investors have recently bought and sold shares of CPRT. Morgan Stanley boosted its stake in shares of Copart by 64.3% in the second quarter. Morgan Stanley now owns 5,865,640 shares of the business services provider’s stock valued at $438,398,000 after purchasing an additional 2,296,528 shares during the period. Nuveen Asset Management LLC raised its holdings in Copart by 8,848.6% in the second quarter. Nuveen Asset Management LLC now owns 1,459,779 shares of the business services provider’s stock valued at $109,104,000 after acquiring an additional 1,443,466 shares in the last quarter. BlackRock Inc. raised its holdings in Copart by 7.6% in the second quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock valued at $1,184,771,000 after acquiring an additional 1,114,752 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Copart in the second quarter valued at approximately $28,566,000. Finally, AXA raised its holdings in Copart by 328.8% in the second quarter. AXA now owns 482,000 shares of the business services provider’s stock valued at $36,025,000 after acquiring an additional 369,600 shares in the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.
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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