Brokerages Set Copart, Inc. (NASDAQ:CPRT) Price Target at $47.60

Shares of Copart, Inc. (NASDAQ:CPRT) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $47.60.

Several analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Finally, Barclays restated an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a research note on Friday, November 21st.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new position in shares of Copart in the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC purchased a new stake in Copart during the third quarter worth approximately $27,000. LRI Investments LLC lifted its stake 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 purchasing an additional 363 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in Copart in the second quarter valued at approximately $31,000. Finally, Ameritas Advisory Services LLC purchased a new position in Copart in the second quarter valued at approximately $31,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

NASDAQ CPRT opened at $39.83 on Friday. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 24.29 and a beta of 1.10. The firm has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $44.10. Copart has a one year low of $37.41 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. Equities analysts predict that Copart will post 1.57 EPS for the current fiscal year.

About Copart

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.