Copart Inc. (NASDAQ:CPRT) – Analysts at Barrington Research upped their Q1 2017 earnings per share estimates for Copart in a report released on Friday. Barrington Research analyst G. Prestopino now anticipates that the firm will post earnings of $0.52 per share for the quarter, up from their prior estimate of $0.49. Barrington Research has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Copart’s Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.45 EPS, Q1 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.70 EPS.
A number of other brokerages have also commented on CPRT. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday. Jefferies Group raised their price objective on shares of Copart from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Bank of America Corp. upgraded shares of Copart from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $63.00 in a report on Friday. Stephens set a $61.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Northcoast Research lowered shares of Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Copart has a consensus rating of “Hold” and a consensus target price of $55.57.
Shares of Copart (NASDAQ:CPRT) opened at 53.65 on Monday. Copart has a 12-month low of $32.26 and a 12-month high of $54.85. The company has a market capitalization of $5.88 billion, a PE ratio of 24.28 and a beta of 0.99. The firm’s 50-day moving average is $51.39 and its 200-day moving average is $47.09.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Copart had a net margin of 19.93% and a return on equity of 28.32%. The company earned $332.70 million during the quarter. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $283,924,000 after buying an additional 2,330,220 shares during the period. 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 worth $175,708,000 after buying an additional 484,678 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of 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 worth $120,364,000 after buying an additional 87,061 shares during the period. Nicholas Co. Inc. WI increased its position in shares of Copart by 1.0% in the second quarter. Nicholas Co. Inc. WI now owns 2,195,935 shares of the company’s stock worth $107,622,000 after buying an additional 22,585 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Copart during the second quarter worth approximately $106,925,000. 83.65% of the stock is owned by institutional investors.
In other news, CEO A Jayson Adair sold 200,000 shares of Copart stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William E. Franklin sold 100,000 shares of Copart stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total transaction of $5,295,000.00. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by insiders.
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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