Copart, Inc. (NASDAQ:CPRT) Receives $44.40 Average Target Price from Analysts

Shares of Copart, Inc. (NASDAQ:CPRT) have received an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $44.40.

CPRT has been the subject of several research reports. Barclays reissued an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th.

Copart Price Performance

Shares of CPRT stock opened at $33.04 on Thursday. The firm’s 50-day simple moving average is $33.35 and its 200-day simple moving average is $37.29. Copart has a 1-year low of $32.20 and a 1-year high of $61.66. The firm has a market cap of $31.83 billion, a P/E ratio of 20.65 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Analysts expect that Copart will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently made changes to their positions in CPRT. Cloud Capital Management LLC acquired a new stake in Copart in the 3rd quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Copart during the fourth quarter worth about $25,000. LRI Investments LLC boosted its position in shares of Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Copart in the third quarter valued at about $36,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

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.