Copart Inc. (CPRT) Price Target Raised to $55.00 at Jefferies Group
A number of other equities research analysts have also weighed in on CPRT. JPMorgan Chase & Co. boosted their target price on shares of Copart from $43.00 to $50.00 and gave the stock a neutral rating in a report on Friday, May 27th. Zacks Investment Research lowered shares of Copart from a buy rating to a hold rating in a report on Wednesday, September 14th. Susquehanna assumed coverage on shares of Copart in a report on Thursday, August 25th. They set a neutral rating and a $53.00 target price on the stock. Finally, Northcoast Research lowered shares of Copart from a buy rating to a neutral rating in a report on Thursday, August 25th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $52.40.
Shares of Copart (NASDAQ:CPRT) traded up 1.38% during midday trading on Thursday, reaching $53.60. 76,033 shares of the company’s stock traded hands. The firm has a market cap of $5.87 billion, a PE ratio of 24.25 and a beta of 0.99. The company has a 50 day moving average of $51.21 and a 200 day moving average of $46.79. Copart has a 52-week low of $32.26 and a 52-week high of $54.85.
Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 31.42%. The firm had revenue of $332.70 million for the quarter. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Copart will post $2.35 EPS for the current fiscal year.
In related news, SVP Robert H. Vannuccini sold 12,577 shares of the 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 transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at $484,761.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul A. Styer sold 7,640 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $49.26, for a total transaction of $376,346.40. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CPRT. Advisor Group Inc. bought a new position in shares of Copart during the second quarter valued at about $143,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Copart during the second quarter valued at about $201,000. Mackenzie Financial Corp bought a new position in shares of Copart during the second quarter valued at about $201,000. Highbridge Capital Management LLC bought a new position in shares of Copart during the second quarter valued at about $206,000. Finally, Ancora Inverness LLC bought a new position in shares of Copart during the first quarter valued at about $207,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.
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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