Copart Inc. (CPRT) Sees Unusually-High Trading Volume on Analyst Upgrade
Copart Inc. (NASDAQ:CPRT) saw strong trading volume on Thursday after Jefferies Group raised their price target on the stock from $53.00 to $55.00. Jefferies Group currently has a hold rating on the stock. 1,506,579 shares changed hands during trading, an increase of 93% from the previous session’s volume of 781,623 shares.The stock last traded at $52.87 and had previously closed at $53.50.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a research report on Wednesday, August 3rd. Susquehanna assumed coverage on Copart in a research report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, May 27th. Finally, Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Eight equities research analysts have rated the stock with a hold rating, Copart has a consensus rating of “Hold” and an average price target of $52.40.
In other Copart news, SVP Paul A. Styer sold 7,640 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $49.26, for a total transaction of $376,346.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $49.96, for a total value of $628,346.92. Following the sale, the senior vice president now owns 9,703 shares of the company’s stock, valued at $484,761.88. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Ancora Inverness LLC purchased a new stake in Copart during the first quarter worth about $207,000. Burgundy Asset Management Ltd. increased its stake in Copart by 2.9% in the first quarter. Burgundy Asset Management Ltd. now owns 174,552 shares of the company’s stock worth $7,116,000 after buying an additional 5,000 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Copart by 548.4% in the first quarter. Landscape Capital Management L.L.C. now owns 90,775 shares of the company’s stock worth $3,701,000 after buying an additional 76,775 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Copart by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 89,645 shares of the company’s stock worth $3,655,000 after buying an additional 19,317 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Copart by 56.0% in the first quarter. BlackRock Group LTD now owns 85,625 shares of the company’s stock worth $3,491,000 after buying an additional 30,723 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.
The stock’s 50 day moving average price is $51.12 and its 200-day moving average price is $46.75. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 27.15 and a beta of 0.99.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm earned $332.70 million during the quarter. Copart had a return on equity of 30.97% and a net margin of 21.25%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Analysts anticipate that Copart Inc. will post $2.35 earnings per share for the current year.
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).
Receive News & Ratings for Copart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart Inc. and related companies with MarketBeat.com's FREE daily email newsletter.