Copart Inc. (NASDAQ:CPRT) Director Matt Blunt sold 65,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $53.53, for a total value of $3,479,450.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $802,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Copart Inc. (NASDAQ:CPRT) opened at 54.05 on Wednesday. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 24.46 and a beta of 0.99. The firm’s 50-day moving average price is $51.46 and its 200 day moving average price is $47.14.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The business earned $332.70 million during the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. On average, analysts predict that Copart Inc. will post $2.41 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a research report on Thursday, September 22nd. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday. Jefferies Group increased their price objective on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 22nd. Northcoast Research cut Copart from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Finally, Barrington Research cut Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Copart presently has an average rating of “Hold” and an average price target of $55.57.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new stake in Copart during the second quarter worth $143,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Copart during the second quarter worth $201,000. Mackenzie Financial Corp bought a new stake in Copart during the second quarter worth $201,000. Highbridge Capital Management LLC bought a new stake in Copart during the second quarter worth $206,000. Finally, Ancora Inverness LLC bought a new stake in Copart during the first quarter worth $207,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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