Copart (NASDAQ:CPRT) Stock Rating Lowered by Zacks Research

Copart (NASDAQ:CPRT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on the company. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Finally, Barclays set a $26.00 price objective on shares of Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Copart has an average rating of “Hold” and a consensus price target of $43.50.

Copart Stock Up 0.4%

CPRT stock opened at $30.82 on Tuesday. Copart has a twelve month low of $26.81 and a twelve month high of $50.11. The company has a market cap of $28.53 billion, a PE ratio of 19.14 and a beta of 1.02. The business’s 50-day simple moving average is $30.01 and its 200 day simple moving average is $33.87.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Copart will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lodestone Wealth Management LLC acquired a new position in Copart during the 4th quarter worth $25,000. Versant Capital Management Inc lifted its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Cache Advisors LLC acquired a new stake in shares of Copart during the 1st quarter worth approximately $31,000. Reflection Asset Management bought a new stake in shares of Copart during the fourth quarter worth approximately $34,000. Finally, Elevation Wealth Partners LLC boosted its stake in Copart by 882.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,094 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

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.