Copart Inc. (NASDAQ:CPRT) – Stock analysts at Jefferies Group lowered their Q1 2017 EPS estimates for Copart in a research report issued on Wednesday. Jefferies Group analyst B. Jordan now expects that the firm will earn $0.42 per share for the quarter, down from their previous estimate of $0.51. Jefferies Group currently has a “Hold” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Copart’s Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.64 EPS, Q4 2017 earnings at $0.59 EPS, FY2017 earnings at $2.13 EPS, Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.62 EPS and FY2019 earnings at $2.52 EPS.
A number of other research firms have also commented on CPRT. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $63.00 in a research note on Friday. Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a research note on Friday. Stephens set a $61.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Finally, Susquehanna began coverage on Copart in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Copart has an average rating of “Hold” and a consensus price target of $55.14.
Shares of Copart (NASDAQ:CPRT) traded up 1.17% during mid-day trading on Friday, reaching $53.49. The company’s stock had a trading volume of 776,638 shares. The firm has a market capitalization of $5.86 billion, a P/E ratio of 24.20 and a beta of 0.99. The company has a 50 day moving average of $51.21 and a 200-day moving average of $46.79. Copart has a 12 month low of $32.26 and a 12 month high of $54.85.
Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The firm had revenue of $332.70 million for the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS.
In other news, SVP Robert H. Vannuccini sold 12,577 shares of the business’s 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 transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at approximately $484,761.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul A. Styer sold 7,640 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was 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 insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC increased its position 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 acquired a new position in shares of Copart during the second quarter valued at approximately $106,925,000. Norges Bank acquired a new position in shares of Copart during the fourth quarter valued at approximately $39,489,000. Robeco Institutional Asset Management B.V. increased its position 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. increased its position 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 and hedge funds.
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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