Copart (NASDAQ:CPRT) Upgraded by BidaskClub to Strong-Buy

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Copart (NASDAQ:CPRT) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday, BidAskClub reports.

A number of other brokerages have also issued reports on CPRT. Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Tuesday, February 18th. Robert W. Baird reduced their target price on shares of Copart from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. SunTrust Banks upped their target price on shares of Copart from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Northcoast Research upgraded shares of Copart from a “neutral” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $86.60.

Shares of CPRT stock opened at $72.56 on Friday. Copart has a 1 year low of $55.69 and a 1 year high of $104.88. The firm’s 50 day moving average is $85.21 and its 200-day moving average is $87.21. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 23.64 and a beta of 0.97. The company has a current ratio of 2.13, a quick ratio of 2.08 and a debt-to-equity ratio of 0.23.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, February 19th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. Copart had a net margin of 32.95% and a return on equity of 32.56%. The company had revenue of $575.10 million for the quarter, compared to analyst estimates of $576.09 million. During the same period in the prior year, the business earned $0.52 earnings per share. Copart’s quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that Copart will post 2.69 earnings per share for the current fiscal year.

In related news, Director Thomas N. Tryforos sold 81,467 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $95.84, for a total value of $7,807,797.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $95.33, for a total transaction of $4,766,500.00. The disclosure for this sale can be found here. Insiders sold 281,895 shares of company stock worth $24,174,699 over the last 90 days. 14.34% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRT. NWK Group Inc. acquired a new stake in Copart in the fourth quarter worth $36,000. Solstein Capital LLC bought a new stake in shares of Copart during the fourth quarter worth $37,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Copart by 64.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the business services provider’s stock worth $40,000 after acquiring an additional 174 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Copart during the fourth quarter worth $45,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Copart by 75.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 490 shares of the business services provider’s stock worth $45,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

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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Analyst Recommendations for Copart (NASDAQ:CPRT)

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