Copart Inc. (CPRT) Hits New 52-Week High at $51.17
Copart Inc. (NASDAQ:CPRT) shares hit a new 52-week high on Monday . The stock traded as high as $51.17 and last traded at $50.75, with a volume of 399,756 shares traded. The stock had previously closed at $50.37.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note 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 note on Friday, May 27th. Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Gabelli assumed coverage on shares of Copart in a research note on Tuesday, April 5th. They set a “hold” rating and a $46.00 target price for the company. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.25.
The stock has a market capitalization of $5.53 billion and a P/E ratio of 25.99. The stock has a 50-day moving average price of $49.22 and a 200 day moving average price of $42.28.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 25th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.10. During the same period in the previous year, the firm posted $0.44 EPS. The firm earned $247.20 million during the quarter, compared to analyst estimates of $321.16 million. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts forecast that Copart Inc. will post $2.07 EPS for the current fiscal year.
In related news, Director Steven D. Cohan sold 160,000 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $48.85, for a total value of $7,816,000.00. Following the completion of the transaction, the director now owns 40,012 shares of the company’s stock, valued at approximately $1,954,586.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul A. Styer sold 8,101 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $49.27, for a total transaction of $399,136.27. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in CPRT. Victory Capital Management Inc. increased 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 valued at $1,138,000 after buying an additional 701 shares during the last quarter. TrimTabs Asset Management LLC purchased a new position in shares of Copart during the fourth quarter valued at $2,362,000. Liberty Mutual Group Asset Management Inc. increased its position in shares of Copart by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 70,546 shares of the company’s stock valued at $2,682,000 after buying an additional 23,938 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of Copart during the fourth quarter valued at $11,403,000. Finally, Morgan Stanley increased 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 valued at $20,233,000 after buying an additional 152,810 shares during 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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