Copart (NASDAQ:CPRT) Rating Lowered to Sell at BidaskClub

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BidaskClub cut shares of Copart (NASDAQ:CPRT) from a hold rating to a sell rating in a research report report published on Saturday morning, BidAskClub reports.

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.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Copart had a net margin of 28.98% and a return on equity of 32.83%. The company had revenue of $542.60 million during the quarter, compared to analyst estimates of $517.84 million. During the same quarter last year, the firm posted $0.42 earnings per share. Copart’s revenue was up 20.8% compared to the same quarter last year. Analysts predict that Copart will post 2.67 EPS for the current fiscal year.

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.

About Copart

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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Analyst Recommendations for Copart (NASDAQ:CPRT)

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