Equities researchers at Guggenheim assumed coverage on shares of Copart (NASDAQ:CPRT) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $58.00 price target on the business services provider’s stock. Guggenheim’s price objective indicates a potential upside of 12.84% from the company’s current price.
Several other analysts also recently issued reports on CPRT. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Wednesday, April 11th. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 21st. Robert W. Baird reaffirmed a “buy” rating and set a $46.00 price objective on shares of Copart in a report on Friday, December 22nd. Jefferies Group reissued a “hold” rating and issued a $47.00 price target on shares of Copart in a report on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Copart presently has an average rating of “Buy” and a consensus target price of $49.13.
Shares of CPRT traded up $1.07 during mid-day trading on Tuesday, hitting $51.40. 153,135 shares of the company’s stock were exchanged, compared to its average volume of 1,337,523. Copart has a twelve month low of $28.89 and a twelve month high of $51.77. The firm has a market cap of $11,690.19, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 1.44 and a beta of 0.95. The company has a quick ratio of 1.74, a current ratio of 1.78 and a debt-to-equity ratio of 0.30.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Monday, February 26th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The business had revenue of $459.11 million during the quarter, compared to the consensus estimate of $427.11 million. Copart had a net margin of 20.95% and a return on equity of 30.94%. Copart’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. research analysts predict that Copart will post 1.74 earnings per share for the current fiscal year.
In related news, Director Matt Blunt sold 13,333 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $50.74, for a total transaction of $676,516.42. Following the completion of the sale, the director now owns 3,333 shares in the company, valued at approximately $169,116.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Copart by 2.3% in the 4th quarter. BlackRock Inc. now owns 16,320,194 shares of the business services provider’s stock valued at $704,869,000 after acquiring an additional 370,808 shares in the last quarter. Alliancebernstein L.P. increased its position in Copart by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 6,985,582 shares of the business services provider’s stock valued at $301,707,000 after acquiring an additional 142,202 shares in the last quarter. Wells Fargo & Company MN increased its position in Copart by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,787,054 shares of the business services provider’s stock valued at $120,373,000 after acquiring an additional 11,360 shares in the last quarter. Congress Asset Management Co. MA acquired a new stake in Copart in the 4th quarter valued at about $78,758,000. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Copart by 2.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,818,956 shares of the business services provider’s stock valued at $78,561,000 after purchasing an additional 39,557 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
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Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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