Brokerages Set Copart, Inc. (NASDAQ:CPRT) Target Price at $41.67

Copart, Inc. (NASDAQ:CPRT) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $41.6667.

A number of research analysts have weighed in on the company. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Barclays set a $26.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares in the last quarter. Jump Financial LLC purchased a new stake in Copart in the second quarter worth about $2,677,000. Sei Investments Co. raised its stake in shares of Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after buying an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Copart by 3.5% in the second 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 buying an additional 13,860 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT stock opened at $33.26 on Friday. Copart has a 1 year low of $26.81 and a 1 year high of $50.11. The company has a market cap of $30.79 billion, a P/E ratio of 20.66 and a beta of 1.01. The stock’s fifty day moving average price is $29.55 and its 200-day moving average price is $32.62.

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.