Copart, Inc. (NASDAQ:CPRT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two 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 1-year price objective among brokers that have issued a report on the stock in the last year is $44.50.

CPRT has been the topic of a number of recent research reports. 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. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of institutional investors have recently bought and sold shares of CPRT. Brighton Jones LLC increased its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares in the last quarter. Jump Financial LLC purchased a new stake in Copart in the 2nd quarter worth $2,677,000. Sei Investments Co. raised its position in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after buying an additional 13,860 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $30.96 on Monday. Copart has a one year low of $29.97 and a one year high of $50.92. The stock’s fifty day moving average is $33.03 and its 200 day moving average is $36.52. The stock has a market cap of $28.66 billion, a P/E ratio of 19.23 and a beta of 1.01.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $0.42 EPS. Copart’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Copart will post 1.58 EPS for the current year.

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.