Copart Inc. (NASDAQ:CPRT) – Equities researchers at Jefferies Group raised their FY2018 EPS estimates for shares of Copart in a research report issued to clients and investors on Wednesday. Jefferies Group analyst B. Jordan now anticipates that the brokerage will post earnings of $2.52 per share for the year, up from their previous estimate of $2.46. Jefferies Group currently has a “Hold” rating and a $55.00 target price on the stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday. Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a report on Friday. Susquehanna began coverage on Copart in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective on the stock. Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $63.00 in a report on Friday. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.57.
Copart (NASDAQ:CPRT) traded up 0.960% during midday trading on Monday, hitting $54.165. The company had a trading volume of 518,052 shares. The company’s 50 day moving average is $51.39 and its 200-day moving average is $47.09. The company has a market cap of $5.94 billion, a P/E ratio of 24.509 and a beta of 0.99. Copart has a one year low of $32.26 and a one year high of $54.85.
Copart (NASDAQ:CPRT) last posted 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 had revenue of $332.70 million for the quarter. Copart had a return on equity of 28.32% and a net margin of 19.93%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share.
In other news, SVP Paul A. Styer sold 7,640 shares of Copart stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $49.26, for a total transaction of $376,346.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert H. Vannuccini sold 12,577 shares of Copart stock in a transaction that occurred on Thursday, July 14th. The stock was 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 approximately $484,761.88. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in CPRT. Lazard Asset Management LLC raised its stake in shares of 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 last quarter. William Blair Investment Management LLC purchased a new stake in shares of Copart during the second quarter valued at $106,925,000. Norges Bank purchased a new stake in shares of Copart during the fourth quarter valued at $39,489,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Copart by 1,216.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 786,168 shares of the company’s stock valued at $38,530,000 after buying an additional 726,456 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of 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 last quarter. 83.65% of the stock is currently owned by institutional investors.
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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