Copart (CPRT) Cut to Hold at BidaskClub
BidaskClub cut shares of Copart (NASDAQ:CPRT) from a buy rating to a hold rating in a report released on Friday.
Several other equities analysts have also recently commented on CPRT. JPMorgan Chase & Co. raised their target price on shares of Copart from $35.00 to $41.00 and gave the company a neutral rating in a research note on Friday, November 24th. Robert W. Baird raised their target price on shares of Copart from $33.00 to $37.00 and gave the company an outperform rating in a research note on Thursday, September 21st. Jefferies Group raised their target price on shares of Copart to $40.00 and gave the company a hold rating in a research note on Thursday, November 23rd. CJS Securities reaffirmed an outperform rating and issued a $42.00 price objective on shares of Copart in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Copart from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research note on Tuesday, November 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Copart presently has a consensus rating of Hold and a consensus price target of $41.80.
Shares of Copart (CPRT) opened at $43.35 on Friday. The firm has a market cap of $10,030.00, a PE ratio of 33.87, a P/E/G ratio of 1.44 and a beta of 1.30. Copart has a 52-week low of $27.56 and a 52-week high of $44.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.26 and a quick ratio of 2.23.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The firm had revenue of $419.17 million for the quarter, compared to the consensus estimate of $377.37 million. Copart had a net margin of 20.01% and a return on equity of 29.96%. During the same period last year, the firm posted $0.29 EPS. equities analysts predict that Copart will post 1.5 earnings per share for the current year.
In other Copart news, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total value of $4,895,347.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the sale, the director now owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Insiders sold a total of 476,667 shares of company stock worth $17,252,147 in the last ninety days. Corporate insiders own 16.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. raised its position in shares of Copart by 100.0% in the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 2,047 shares during the period. Parallel Advisors LLC raised its position in shares of Copart by 2.6% in the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 111 shares during the period. IFP Advisors Inc raised its position in shares of Copart by 216.3% in the third quarter. IFP Advisors Inc now owns 5,491 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 3,755 shares during the period. Private Advisor Group LLC bought a new position in shares of Copart in the third quarter valued at approximately $200,000. Finally, Crow Point Partners LLC bought a new position in shares of Copart in the third quarter valued at approximately $198,000. Institutional investors and hedge funds own 78.38% of the company’s stock.
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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