Copart Inc. (CPRT) Sets New 12-Month High at $51.84
Copart Inc. (NASDAQ:CPRT) reached a new 52-week high on Thursday . The stock traded as high as $51.84 and last traded at $51.82, with a volume of 193,429 shares trading hands. The stock had previously closed at $51.19.
Several research firms have recently weighed in on CPRT. JPMorgan Chase & Co. increased their price objective on Copart from $43.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, May 27th. Jefferies Group reissued a “hold” rating and issued a $53.00 price objective (up from $40.00) on shares of Copart in a research report on Friday, May 27th. Finally, Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Copart has an average rating of “Hold” and a consensus target price of $51.75.
The company’s 50-day moving average price is $50.35 and its 200 day moving average price is $44.28. The stock has a market capitalization of $5.71 billion and a price-to-earnings ratio of 26.80.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. During the same period in the prior year, the business posted $0.44 EPS. The firm earned $247.20 million during the quarter, compared to analyst estimates of $321.16 million. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts predict 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 Copart stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $48.85, for a total value of $7,816,000.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Robert H. Vannuccini sold 12,577 shares of Copart stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total value of $628,346.92. Following the completion of the sale, the senior vice president now directly owns 9,703 shares in the company, valued at approximately $484,761.88. The disclosure for this sale can be found here.
Other large investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of Copart by 40.3% in the fourth quarter. Morgan Stanley now owns 532,314 shares of the company’s stock worth $20,233,000 after buying an additional 152,810 shares in the last quarter. 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. Finally, Bridgewater Associates LP bought a new position in Copart during the fourth quarter valued at $1,297,000.
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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