Several other brokerages also recently issued reports on CPRT. Zacks Investment Research downgraded shares of Copart from a buy rating to a hold rating in a research note on Wednesday, September 14th. Northcoast Research downgraded shares of Copart from a buy rating to a neutral rating in a research note on Thursday, August 25th. JPMorgan Chase & Co. raised their price objective on shares of Copart from $43.00 to $50.00 and gave the stock a neutral rating in a research note on Friday, May 27th. Jefferies Group reissued a hold rating and issued a $53.00 price objective (up previously from $40.00) on shares of Copart in a research note on Friday, May 27th. Finally, Susquehanna initiated coverage on shares of Copart in a research note on Thursday, August 25th. They issued a neutral rating and a $53.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $55.57.
Copart (NASDAQ:CPRT) traded down 0.89% on Friday, hitting $53.57. The company’s stock had a trading volume of 69,379 shares. The firm has a 50 day moving average of $51.31 and a 200 day moving average of $46.89. Copart has a 12 month low of $32.26 and a 12 month high of $54.85. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 24.24 and a beta of 0.99.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Copart had a net margin of 19.93% and a return on equity of 28.32%. The firm earned $332.70 million during the quarter. During the same period in the previous year, the business posted $0.41 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Equities research analysts forecast that Copart will post $2.41 earnings per share for the current fiscal year.
In related news, SVP Robert H. Vannuccini sold 12,577 shares of Copart stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total transaction of $628,346.92. Following the transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at $484,761.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Paul A. Styer sold 7,640 shares of Copart stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total transaction of $376,346.40. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of CPRT. Macquarie Group Ltd. acquired a new position in shares of Copart during the second quarter valued at about $2,823,000. Mason Street Advisors LLC acquired a new position in shares of Copart during the second quarter valued at about $2,225,000. Calvert Investment Management Inc. acquired a new position in shares of Copart during the second quarter valued at about $374,000. Schwab Charles Investment Management Inc. raised its position in shares of Copart by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 381,972 shares of the company’s stock valued at $18,721,000 after buying an additional 9,365 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Copart by 2.4% in the second quarter. Stifel Financial Corp now owns 84,983 shares of the company’s stock valued at $4,166,000 after buying an additional 2,021 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.
Copart Company Profile
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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