Brokerages Set Copart, Inc. (NASDAQ:CPRT) PT at $37.38

Copart, Inc. (NASDAQ:CPRT) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.2222.

Several brokerages have weighed in on CPRT. Robert W. Baird cut their price target on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, September 11th. Freedom Broker decreased their price objective on Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $40.00 in a research note on Thursday, September 3rd.

Copart Price Performance

NASDAQ:CPRT opened at $29.28 on Wednesday. The company has a fifty day simple moving average of $30.54 and a two-hundred day simple moving average of $31.82. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03. Copart has a 52 week low of $26.81 and a 52 week high of $46.21.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, analysts expect that Copart will post 1.65 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 99,641 shares of the company’s stock, 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 SEC, which is available at this link. 9.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Copart

Several institutional investors have recently modified their holdings of the company. Western Pacific Wealth Management LP raised its position in Copart by 13.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock worth $88,000 after buying an additional 320 shares during the last quarter. Claret Asset Management Corp boosted its holdings in shares of Copart by 5.1% in the fourth quarter. Claret Asset Management Corp now owns 6,830 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 329 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Copart by 27.1% in the fourth quarter. IFP Advisors Inc now owns 1,674 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 357 shares in the last quarter. Alpha Family Trust increased its stake in shares of Copart by 3.4% during the first quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock worth $366,000 after acquiring an additional 360 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Copart by 1.2% during the fourth quarter. Stephens Inc. AR now owns 29,871 shares of the business services provider’s stock worth $1,169,000 after acquiring an additional 362 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Company Profile

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.