Copart, Inc. (NASDAQ:CPRT) Stock Has Average Target Price of $37.80 According to Brokerages

Copart, Inc. (NASDAQ:CPRT) has earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $37.80.

A number of brokerages have recently issued reports on CPRT. Barrington Research raised Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Friday, September 11th. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Robert W. Baird decreased their price target on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, September 11th. BNP Paribas Exane reiterated an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Finally, Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Copart

Several institutional investors have recently added to or reduced their stakes in the company. Allied Investment Advisors LLC acquired a new position in Copart in the third quarter valued at about $2,770,000. Signal Advisors Wealth LLC grew its stake in Copart by 4.2% during the third quarter. Signal Advisors Wealth LLC now owns 285,028 shares of the business services provider’s stock worth $7,776,000 after buying an additional 11,470 shares during the last quarter. Downshift Financial LLC increased its holdings in shares of Copart by 558.1% during the third quarter. Downshift Financial LLC now owns 1,461 shares of the business services provider’s stock worth $40,000 after buying an additional 1,239 shares in the last quarter. Seilern Investment Management Ltd increased its holdings in shares of Copart by 12.9% during the third quarter. Seilern Investment Management Ltd now owns 1,188,547 shares of the business services provider’s stock worth $32,424,000 after buying an additional 135,850 shares in the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in shares of Copart during the third quarter worth approximately $412,000. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 0.4%

NASDAQ:CPRT opened at $26.37 on Friday. Copart has a 12-month low of $26.17 and a 12-month high of $45.89. The firm has a market capitalization of $24.43 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06. The firm has a 50-day moving average price of $30.21 and a 200 day moving average price of $30.92.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. On average, research analysts expect that Copart will post 1.63 EPS for the current year.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.