Copart Inc. (NASDAQ:CPRT) had its target price hoisted by Jefferies Group from $53.00 to $55.00 in a research note issued to investors on Thursday. Jefferies Group currently has a hold rating on the stock.
Several other research analysts also recently weighed in on CPRT. JPMorgan Chase & Co. boosted their price target on Copart from $43.00 to $50.00 and gave the company a neutral rating in a report on Friday, May 27th. Zacks Investment Research downgraded Copart from a buy rating to a hold rating in a report on Wednesday, September 14th. Susquehanna began coverage on Copart in a report on Thursday, August 25th. They issued a neutral rating and a $53.00 price target for the company. Finally, Northcoast Research downgraded Copart from a buy rating to a neutral rating in a report on Thursday, August 25th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Copart presently has an average rating of Hold and an average target price of $55.57.
Copart (NASDAQ:CPRT) opened at 54.05 on Thursday. Copart has a 12-month low of $32.26 and a 12-month high of $54.85. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 24.46 and a beta of 0.99. The company has a 50-day moving average price of $51.46 and a 200-day moving average price of $47.14.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The company earned $332.70 million during the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, equities research analysts forecast that Copart will post $2.41 earnings per share for the current year.
In related news, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $10,722,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul A. Styer sold 7,640 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total value of $376,346.40. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CPRT. Norges Bank bought a new stake in shares of Copart during the fourth quarter valued at about $39,489,000. Aperio Group LLC increased its stake in shares of Copart by 15.3% in the first quarter. Aperio Group LLC now owns 80,695 shares of the company’s stock valued at $3,290,000 after buying an additional 10,724 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Copart during the first quarter valued at about $1,105,000. Ramsey Quantitative Systems increased its stake in shares of Copart by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 17,417 shares of the company’s stock valued at $710,000 after buying an additional 903 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new stake in shares of Copart during the first quarter valued at about $350,000. 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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