Copart, Inc. (CPRT) PT Raised to $40.00 at Jefferies Group LLC
Copart, Inc. (NASDAQ:CPRT) had its price objective upped by analysts at Jefferies Group LLC to $40.00 in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the business services provider’s stock. Jefferies Group LLC’s price target points to a potential downside of 5.79% from the company’s previous close.
Other analysts have also issued reports about the stock. CJS Securities reiterated an “outperform” rating and issued a $42.00 price target on shares of Copart in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Tuesday. Wolfe Research began coverage on shares of Copart in a research note on Tuesday, November 7th. They issued a “market perform” rating for the company. Finally, Robert W. Baird lifted their price target on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.40.
Shares of Copart (NASDAQ CPRT) opened at $42.46 on Thursday. Copart has a 12 month low of $26.96 and a 12 month high of $42.50. The company has a market cap of $9,479.58, a P/E ratio of 30.60, a PEG ratio of 1.52 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 2.26 and a debt-to-equity ratio of 0.46.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Copart had a net margin of 20.01% and a return on equity of 29.96%. The firm had revenue of $419.17 million during the quarter, compared to analyst estimates of $377.37 million. During the same period in the previous year, the business posted $0.29 earnings per share. research analysts anticipate that Copart will post 1.41 EPS for the current fiscal year.
In related news, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now directly owns 47,660 shares in the company, valued at $1,635,691.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Meeks sold 160,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the sale, the director now owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. grew its position in Copart by 100.0% during the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after buying an additional 2,047 shares during the period. Parallel Advisors LLC grew its position in Copart by 2.6% during the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after buying an additional 111 shares during the period. Smithfield Trust Co. grew its position in Copart by 104.8% during the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock valued at $171,000 after buying an additional 2,749 shares during the period. IFP Advisors Inc grew its position in Copart by 216.3% during the third quarter. IFP Advisors Inc now owns 5,491 shares of the business services provider’s stock valued at $189,000 after buying an additional 3,755 shares during the period. Finally, Huntington National Bank grew its position in Copart by 136.5% during the second quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,249 shares during the period. Institutional investors own 81.03% of the company’s stock.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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