Copart, Inc. (NASDAQ:CPRT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $44.50.

A number of equities research analysts recently weighed in on CPRT shares. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

A number of large investors have recently bought and sold shares of CPRT. Brighton Jones LLC boosted its stake in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the period. Geneos Wealth Management Inc. increased its position in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the period. Jump Financial LLC purchased a new stake in Copart during the 2nd quarter valued at approximately $2,677,000. Sei Investments Co. raised its stake in Copart by 110.0% during the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after acquiring an additional 13,860 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.9%

Shares of Copart stock opened at $28.33 on Friday. Copart has a 52 week low of $27.81 and a 52 week high of $50.11. The firm’s 50 day moving average is $31.43 and its two-hundred day moving average is $34.94. The firm has a market capitalization of $26.23 billion, a P/E ratio of 17.60 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, research analysts expect that Copart will post 1.58 earnings per share for the current fiscal year.

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.