Copart (NASDAQ:CPRT) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Copart (NASDAQ:CPRT) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks reports.

CPRT has been the subject of a number of other research reports. Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Copart Price Performance

CPRT opened at $32.60 on Monday. The stock’s 50 day simple moving average is $30.27 and its 200 day simple moving average is $32.16. Copart has a 1 year low of $26.81 and a 1 year high of $49.11. The firm has a market cap of $30.18 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.62 and a beta of 1.03.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of large investors have recently modified their holdings of CPRT. Janney Montgomery Scott LLC lifted its position in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after acquiring an additional 41,060 shares during the period. Handelsbanken Fonder AB grew its holdings in Copart by 6.4% in the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 34,855 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in Copart in the second quarter worth about $1,298,000. Mill Capital Management LLC bought a new position in shares of Copart during the second quarter valued at approximately $12,711,000. Finally, Barbara Oil Co. bought a new position in shares of Copart during the second quarter valued at approximately $1,585,000. Institutional investors 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.