Copart Inc. (CPRT) Hits New 1-Year High at $51.41
Copart Inc. (NASDAQ:CPRT) hit a new 52-week high during trading on Monday . The company traded as high as $51.41 and last traded at $51.40, with a volume of 305,146 shares trading hands. The stock had previously closed at $50.44.
A number of brokerages have commented on CPRT. Jefferies Group reiterated a “hold” rating and set a $53.00 target price (up previously from $40.00) on shares of Copart in a report on Friday, May 27th. JPMorgan Chase & Co. increased their target price on Copart from $43.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, May 27th. Gabelli began coverage on Copart in a report on Tuesday, April 5th. They set a “hold” rating and a $46.00 target price on the stock. Finally, Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.25.
The firm has a 50-day moving average price of $49.38 and a 200 day moving average price of $42.74. The firm has a market cap of $5.61 billion and a P/E ratio of 26.35.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 25th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The firm had revenue of $247.20 million for the quarter, compared to the consensus estimate of $321.16 million. During the same period in the previous year, the firm earned $0.44 EPS. Copart’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts expect that Copart Inc. will post $2.07 earnings per share for the current year.
In other Copart news, Director Steven D. Cohan sold 160,000 shares of Copart stock in a transaction that occurred on 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 transaction, the director now owns 40,012 shares in the company, valued at $1,954,586.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert H. Vannuccini sold 12,577 shares of Copart stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $49.96, for a total transaction 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.
Other hedge funds and institutional investors have bought and sold shares of the company. Victory Capital Management Inc. raised its position in 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 period. TrimTabs Asset Management LLC acquired a new position in Copart during the fourth quarter valued at about $2,362,000. Cibc World Markets Corp acquired a new position in Copart during the fourth quarter valued at about $11,403,000. Morgan Stanley raised its position in 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 period. Finally, Wells Fargo & Company MN raised its position in Copart by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,265,957 shares of the company’s stock valued at $48,119,000 after buying an additional 25,430 shares during the period.
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).