Copart, Inc. (NASDAQ:CPRT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have been given a consensus recommendation of “Hold” by the five ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $51.00.

Several research firms recently weighed in on CPRT. JPMorgan Chase & Co. upped their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st.

Copart Stock Performance

CPRT stock opened at $52.88 on Friday. Copart has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The business’s 50 day moving average price is $54.34 and its two-hundred day moving average price is $50.05. The company has a market capitalization of $50.84 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Copart will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 in the last 90 days. Insiders own 10.23% of the company’s stock.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPRT. Marshall Financial Group LLC lifted its holdings in shares of Copart by 11.3% during the 1st quarter. Marshall Financial Group LLC now owns 28,847 shares of the business services provider’s stock valued at $1,671,000 after buying an additional 2,935 shares during the period. Retirement Guys Formula LLC bought a new position in shares of Copart during the 1st quarter valued at $1,291,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Copart by 19.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 17,292 shares of the business services provider’s stock valued at $1,002,000 after buying an additional 2,871 shares during the period. Fluent Financial LLC lifted its holdings in shares of Copart by 8.3% during the 1st quarter. Fluent Financial LLC now owns 13,429 shares of the business services provider’s stock valued at $778,000 after buying an additional 1,027 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of Copart by 2,316.8% during the 1st quarter. Norden Group LLC now owns 427,476 shares of the business services provider’s stock valued at $24,759,000 after buying an additional 409,788 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Company Profile

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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.