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

Shares of Copart, Inc. (NASDAQ:CPRT) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $44.50.

Several brokerages have issued reports on CPRT. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd.

Copart Price Performance

Shares of Copart stock opened at $30.75 on Monday. The firm has a market capitalization of $28.47 billion, a PE ratio of 19.10 and a beta of 1.00. The company’s fifty day moving average price is $32.85 and its two-hundred day moving average price is $36.20. Copart has a 52-week low of $29.97 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Analysts predict that Copart will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Copart during the 4th quarter worth about $569,569,000. Capital World Investors lifted its position in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares in the last quarter. Capital International Investors acquired a new position in Copart during the 4th quarter worth about $195,637,000. Deutsche Bank AG lifted its position in Copart by 94.0% during the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after buying an additional 4,823,111 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

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.