James E. Meeks Sells 26,075 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) Director James E. Meeks sold 26,075 shares of the stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $54.14, for a total value of $1,411,700.50. Following the sale, the director now owns 26,075 shares in the company, valued at $1,411,700.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Copart Inc. (NASDAQ:CPRT) opened at 53.95 on Tuesday. The company has a market capitalization of $6.16 billion, a PE ratio of 24.41 and a beta of 0.95. The company has a 50-day moving average price of $52.36 and a 200-day moving average price of $48.43. Copart Inc. has a one year low of $32.26 and a one year high of $54.85.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company earned $332.70 million during the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Analysts expect that Copart Inc. will post $2.42 earnings per share for the current fiscal year.
Several analysts have commented on CPRT shares. Zacks Investment Research upgraded Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, August 3rd. Northcoast Research downgraded Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Susquehanna started coverage on Copart in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Copart has a consensus rating of “Hold” and a consensus price target of $55.57.
A number of institutional investors have recently modified their holdings of the company. Advisor Group Inc. acquired a new position in shares of Copart during the second quarter worth approximately $143,000. Cutler Group LP increased its position in shares of Copart by 64.6% in the third quarter. Cutler Group LP now owns 3,291 shares of the company’s stock worth $176,000 after buying an additional 1,291 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Copart during the second quarter worth about $201,000. Mackenzie Financial Corp acquired a new position in shares of Copart during the second quarter worth about $201,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Copart during the second quarter worth about $206,000. 80.14% of the stock is owned by institutional investors.
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).
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