Robert W. Baird Cuts Copart (NASDAQ:CPRT) Price Target to $38.00

Copart (NASDAQ:CPRT) had its price objective trimmed by Robert W. Baird from $42.00 to $38.00 in a research report sent to investors on Friday, Marketbeat reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $40.00 in a research report on Thursday, September 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Stephens restated an “equal weight” rating and set a $35.00 price objective 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 report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.57.

Copart Price Performance

CPRT stock opened at $29.95 on Friday. The company has a market cap of $27.73 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 1.43 and a beta of 1.03. Copart has a twelve month low of $26.81 and a twelve month high of $48.96. The business has a 50 day moving average price of $30.35 and a two-hundred day moving average price of $32.05.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Copart will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new position in shares of Copart in the fourth quarter valued at about $34,000. C M Bidwell & Associates Ltd. acquired a new stake in Copart in the 2nd quarter worth about $25,000. Cache Advisors LLC acquired a new stake in Copart in the 1st quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Finally, Triumph Capital Management boosted its holdings in Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart News Summary

Here are the key news stories impacting Copart this week:

• Positive Sentiment: ACV acquisition expands Copart’s addressable market. Copart agreed to acquire ACV Auctions for $10.50 per share in cash, valuing the transaction at approximately $1.9 billion. The deal adds dealer-to-dealer wholesale auctions, vehicle inspection and valuation tools, and automotive data capabilities to Copart’s salvage-auction platform. Management expects the transaction to be earnings-neutral initially and accretive beginning in fiscal 2028. Copart to Acquire ACV, Expanding Position Across the Vehicle Remarketing Ecosystem
• Positive Sentiment: Analyst support improved. Barrington Research upgraded CPRT to “outperform” with a $40 price target, signaling confidence that the ACV combination and Copart’s long-term growth prospects can outweigh near-term challenges. This Copart Analyst Turns Bullish
• Neutral Sentiment: Revenue exceeded expectations, but growth remained modest. Fiscal fourth-quarter revenue rose 2.4% year over year to $1.15 billion, slightly above the $1.14 billion consensus estimate. Vehicle sales increased 8.3%, partially offsetting only 1.4% growth in service revenue. Copart Q4 Revenue Rises 2.4% to $1.15 Billion
• Negative Sentiment: Profitability missed forecasts and declined year over year. Quarterly EPS was $0.35, below the $0.38–$0.39 analyst consensus and down from $0.41 a year earlier. Net income fell 17.4%, gross profit declined 5.5%, and fiscal-year EPS decreased to $1.55 from $1.59. Copart Inc. Lags Q4 Earnings Estimates
• Negative Sentiment: ACV deal scrutiny introduces execution and closing risk. A law firm announced an investigation into whether ACV’s board obtained fair value and conducted an adequate sale process. Separately, Baird lowered its CPRT price target to $38, although it maintained an “outperform” rating. Shareholder Notice Regarding ACV Auctions

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.