Copart Inc. (CPRT) Sets New 1-Year High at $51.84
Copart Inc. (NASDAQ:CPRT) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $51.84 and last traded at $51.82, with a volume of 193,429 shares. The stock had previously closed at $51.19.
Several research firms have commented on CPRT. JPMorgan Chase & Co. raised their price objective on Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. Jefferies Group reaffirmed 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, Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.75.
The company has a market cap of $5.69 billion and a price-to-earnings ratio of 26.70. The stock’s 50 day moving average is $50.14 and its 200 day moving average is $44.09.
Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, May 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. The firm earned $247.20 million during the quarter, compared to the consensus estimate of $321.16 million. Copart’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities analysts forecast that Copart Inc. will post $2.07 earnings per share for the current fiscal year.
In related news, Director Steven D. Cohan sold 160,000 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $48.85, for a total value of $7,816,000.00. Following the transaction, the director now directly owns 40,012 shares in the company, valued at approximately $1,954,586.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert H. Vannuccini sold 12,577 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 9,703 shares in the company, valued at $484,761.88. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of CPRT. Victory Capital Management Inc. boosted its position in shares of Copart by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 29,938 shares of the company’s stock worth $1,138,000 after buying an additional 701 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Copart during the fourth quarter worth about $1,297,000. Morgan Stanley boosted its position in shares of Copart by 40.3% in the fourth quarter. Morgan Stanley now owns 532,314 shares of the company’s stock worth $20,233,000 after buying an additional 152,810 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Copart by 36.4% in the fourth quarter. Jennison Associates LLC now owns 3,001,552 shares of the company’s stock worth $114,089,000 after buying an additional 800,405 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).
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