Copart, Inc. (NASDAQ:CPRT) Given Average Rating of “Hold” by Analysts

Shares of Copart, Inc. (NASDAQ:CPRT) have been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.40.

CPRT has been the topic of a number of recent research reports. Barclays restated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th.

Copart Stock Down 1.4%

CPRT opened at $37.94 on Friday. Copart has a 52-week low of $33.81 and a 52-week high of $63.85. The company has a 50 day moving average of $39.12 and a two-hundred day moving average of $42.01. The company has a market cap of $36.73 billion, a P/E ratio of 23.71 and a beta of 1.09.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.40 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Research analysts anticipate that Copart will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter worth about $25,000. Lodestone Wealth Management LLC bought a new position in Copart during the fourth quarter worth $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the 3rd quarter valued at $27,000. LRI Investments LLC grew its position in Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares in the last quarter. Finally, Creekmur Asset Management LLC increased its position in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.