Copart, Inc. (CPRT) Hits New 1-Year High at $36.59
Copart, Inc. (NASDAQ:CPRT) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.59 and last traded at $36.52, with a volume of 580,747 shares trading hands. The stock had previously closed at $36.39.
A number of research analysts recently issued reports on the company. CJS Securities reiterated an “outperform” rating and issued a $42.00 target price on shares of Copart in a report on Thursday, October 5th. Robert W. Baird lifted their price target on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Zacks Investment Research downgraded Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 price target on shares of Copart in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $37.33.
The firm has a market capitalization of $8.41 billion, a P/E ratio of 21.95 and a beta of 1.19. The stock has a 50 day moving average price of $33.65 and a 200 day moving average price of $31.63.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 31.83%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. On average, analysts predict that Copart, Inc. will post $1.43 earnings per share for the current fiscal year.
In other news, Director James E. Meeks sold 160,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the transaction, the director now owns 3,500 shares of the company’s stock, valued at $120,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the transaction, the president now directly owns 47,660 shares in the company, valued at approximately $1,635,691.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Several hedge funds have recently modified their holdings of CPRT. UBS Asset Management Americas Inc. lifted its position in shares of Copart by 6.1% during the first quarter. UBS Asset Management Americas Inc. now owns 73,137 shares of the business services provider’s stock worth $4,529,000 after purchasing an additional 4,202 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Copart by 7.5% during the first quarter. Prudential Financial Inc. now owns 63,529 shares of the business services provider’s stock worth $3,934,000 after purchasing an additional 4,440 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Copart by 0.8% during the first quarter. Neuberger Berman Group LLC now owns 16,826 shares of the business services provider’s stock worth $1,042,000 after purchasing an additional 126 shares during the last quarter. Credit Agricole S A lifted its position in shares of Copart by 28.2% during the first quarter. Credit Agricole S A now owns 18,675 shares of the business services provider’s stock worth $578,000 after purchasing an additional 4,110 shares during the last quarter. Finally, United Services Automobile Association bought a new position in shares of Copart during the first quarter worth about $912,000. 79.57% of the stock is currently owned by institutional investors and hedge funds.
Copart Company Profile
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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