Copart Inc. (NASDAQ:CPRT) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 5,183,806 shares, a decline of 11.1% from the August 31st total of 5,833,580 shares. Based on an average daily volume of 577,407 shares, the days-to-cover ratio is currently 9.0 days. Approximately 5.6% of the shares of the company are short sold.
Copart (NASDAQ:CPRT) opened at 53.69 on Friday. Copart has a 12 month low of $32.26 and a 12 month high of $54.85. The firm has a market cap of $6.13 billion, a PE ratio of 24.29 and a beta of 0.95. The stock’s 50 day moving average is $52.05 and its 200 day moving average is $47.74.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm earned $332.70 million during the quarter. During the same period in the prior year, the business earned $0.41 earnings per share. Copart’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts forecast that Copart will post $2.42 earnings per share for the current year.
Several equities research analysts recently commented on CPRT shares. Zacks Investment Research raised shares of Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a report on Wednesday, August 3rd. Northcoast Research lowered shares of Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Barrington Research lowered shares of Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Susquehanna started coverage on shares of Copart in a report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Jefferies Group reissued a “hold” rating on shares of Copart in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.57.
In related news, CEO A Jayson Adair sold 200,000 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $53.61, for a total value of $10,722,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $49.96, for a total transaction of $628,346.92. Following the completion of the sale, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at approximately $484,761.88. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.
Several large investors have recently modified their holdings of CPRT. Advisor Group Inc. bought a new stake in shares of Copart during the second quarter valued at $143,000. Mackenzie Financial Corp bought a new stake in shares of Copart during the second quarter valued at $201,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Copart during the second quarter valued at $201,000. Highbridge Capital Management LLC bought a new stake in shares of Copart during the second quarter valued at $206,000. Finally, TD Asset Management Inc. bought a new stake in shares of Copart during the second quarter valued at $211,000. 83.65% of the stock is owned by hedge funds and other 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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