Shares of Copart Inc. (NASDAQ:CPRT) saw strong trading volume on Thursday after Jefferies Group raised their price target on the stock from $53.00 to $55.00. Jefferies Group currently has a hold rating on the stock. 1,506,579 shares traded hands during trading, an increase of 93% from the previous session’s volume of 781,623 shares.The stock last traded at $52.87 and had previously closed at $53.50.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Susquehanna assumed coverage on shares of Copart in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target on the stock. Northcoast Research cut shares of Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Copart from $43.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, May 27th. Eight research analysts have rated the stock with a hold rating, Copart presently has an average rating of “Hold” and a consensus target price of $52.40.
In other Copart news, SVP Robert H. Vannuccini sold 12,577 shares of the stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total value of $628,346.92. Following the sale, the senior vice president now directly owns 9,703 shares in the company, valued at $484,761.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Paul A. Styer sold 7,640 shares of the stock in a transaction on Tuesday, July 5th. The stock was 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. 19.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its stake in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock valued at $283,924,000 after buying an additional 2,330,220 shares during the period. Principal Financial Group Inc. raised its stake in Copart by 15.6% in the second quarter. Principal Financial Group Inc. now owns 3,585,146 shares of the company’s stock valued at $175,708,000 after buying an additional 484,678 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Copart by 3.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,455,910 shares of the company’s stock valued at $120,364,000 after buying an additional 87,061 shares during the period. Nicholas Co. Inc. WI raised its stake in Copart by 1.0% in the second quarter. Nicholas Co. Inc. WI now owns 2,195,935 shares of the company’s stock valued at $107,622,000 after buying an additional 22,585 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in Copart during the second quarter valued at $106,925,000. Institutional investors own 83.65% of the company’s stock.
The firm has a 50 day moving average of $51.21 and a 200-day moving average of $46.79. The stock has a market cap of $5.78 billion, a P/E ratio of 27.15 and a beta of 0.99.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $332.70 million for the quarter. Copart had a net margin of 21.25% and a return on equity of 30.97%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Equities research analysts anticipate that Copart Inc. will post $2.35 EPS for the current year.
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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