Copart Inc. (CPRT) Sets New 52-Week High at $51.17
Shares of Copart Inc. (NASDAQ:CPRT) hit a new 52-week high during trading on Monday . The stock traded as high as $51.17 and last traded at $50.75, with a volume of 399,756 shares trading hands. The stock had previously closed at $50.37.
CPRT has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research note on Monday, May 30th. Gabelli began coverage on shares of Copart in a research report on Tuesday, April 5th. They set a “hold” rating and a $46.00 target price for the company. Jefferies Group restated a “hold” rating and set a $53.00 target price (up previously from $40.00) on shares of Copart in a research report on Friday, May 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, May 27th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Copart has an average rating of “Hold” and a consensus target price of $51.25.
The stock has a 50-day moving average price of $49.12 and a 200 day moving average price of $41.99. The firm has a market capitalization of $5.55 billion and a P/E ratio of 26.04.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 25th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.10. The business had revenue of $247.20 million for the quarter, compared to the consensus estimate of $321.16 million. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, equities analysts expect that Copart Inc. will post $2.07 EPS for the current year.
In other Copart news, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were 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 owns 9,703 shares in the company, valued at $484,761.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 160,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $48.85, for a total transaction of $7,816,000.00. Following the sale, the director now owns 40,012 shares of the company’s stock, valued at approximately $1,954,586.20. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in CPRT. Jennison Associates LLC raised its position in Copart by 36.4% in the fourth quarter. Jennison Associates LLC now owns 3,001,552 shares of the company’s stock valued at $114,089,000 after buying an additional 800,405 shares in the last quarter. Cibc World Markets Corp purchased a new position in Copart during the fourth quarter valued at approximately $11,403,000. Liberty Mutual Group Asset Management Inc. raised its position in Copart by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 70,546 shares of the company’s stock valued at $2,682,000 after buying an additional 23,938 shares in the last quarter. Morgan Stanley raised its position in Copart by 40.3% in the fourth quarter. Morgan Stanley now owns 532,314 shares of the company’s stock valued at $20,233,000 after buying an additional 152,810 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Copart by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 29,938 shares of the company’s stock valued at $1,138,000 after buying an additional 701 shares in the last quarter.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.