Copart Inc. (NASDAQ:CPRT) posted its earnings results on Tuesday. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $332.70 million for the quarter, compared to analyst estimates of $317.74 million. Copart had a return on equity of 28.32% and a net margin of 19.93%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS.

Shares of Copart (NASDAQ:CPRT) opened at 51.41 on Wednesday. Copart has a 1-year low of $32.26 and a 1-year high of $53.70. The company has a 50-day moving average price of $51.05 and a 200 day moving average price of $46.70. The company has a market capitalization of $5.62 billion, a P/E ratio of 26.40 and a beta of 0.99.

A number of research firms recently weighed in on CPRT. Jefferies Group reissued a “hold” rating and set a $53.00 target price (up from $40.00) on shares of Copart in a report on Friday, May 27th. JPMorgan Chase & Co. boosted their target price on Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Susquehanna began coverage on Copart in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Eight equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

In other Copart news, SVP Paul A. Styer sold 7,640 shares of the 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 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 the 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 completion of the transaction, the senior vice president now owns 9,703 shares in the company, valued at approximately $484,761.88. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Burgundy Asset Management Ltd. raised its position in shares of Copart by 2.9% in the first quarter. Burgundy Asset Management Ltd. now owns 174,552 shares of the company’s stock valued at $7,116,000 after buying an additional 5,000 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Copart by 548.4% in the first quarter. Landscape Capital Management L.L.C. now owns 90,775 shares of the company’s stock valued at $3,701,000 after buying an additional 76,775 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Copart by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 89,645 shares of the company’s stock valued at $3,655,000 after buying an additional 19,317 shares during the last quarter. BlackRock Group LTD raised its position in shares of Copart by 56.0% in the first quarter. BlackRock Group LTD now owns 85,625 shares of the company’s stock valued at $3,491,000 after buying an additional 30,723 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Copart by 40.0% in the first quarter. BlackRock Inc. now owns 51,261 shares of the company’s stock valued at $2,090,000 after buying an additional 14,634 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Copart Company Profile

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).

5 Day Chart for NASDAQ:CPRT

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