Copart, Inc. (CPRT) Given Consensus Recommendation of “Hold” by Brokerages
Copart, Inc. (NASDAQ:CPRT) has earned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $44.33.
Several equities research analysts have recently issued reports on CPRT shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Copart in a research note on Thursday, July 6th. Robert W. Baird raised their price target on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd.
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Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $378.60 million during the quarter, compared to analyst estimates of $355.42 million. Copart had a return on equity of 33.56% and a net margin of 27.23%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS.
Several hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its holdings in Copart by 104.1% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 397,389 shares of the business services provider’s stock worth $12,633,000 after purchasing an additional 202,721 shares during the period. Intl Fcstone Inc. purchased a new position in Copart during the 2nd quarter worth $230,000. M Holdings Securities Inc. increased its holdings in Copart by 95.5% during the 2nd quarter. M Holdings Securities Inc. now owns 10,698 shares of the business services provider’s stock worth $340,000 after purchasing an additional 5,227 shares during the period. Navellier & Associates Inc increased its holdings in Copart by 9.9% during the 2nd quarter. Navellier & Associates Inc now owns 19,916 shares of the business services provider’s stock worth $633,000 after purchasing an additional 1,801 shares during the period. Finally, Ashford Capital Management Inc. increased its holdings in Copart by 99.1% during the 2nd quarter. Ashford Capital Management Inc. now owns 462,615 shares of the business services provider’s stock worth $14,707,000 after purchasing an additional 230,310 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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