Copart, Inc. (CPRT) Shares Gap Up After Analyst Upgrade
Copart, Inc. (NASDAQ:CPRT) shares gapped up before the market opened on Friday after Robert W. Baird raised their price target on the stock to $44.00. The stock had previously closed at $34.77, but opened at $36.70. Robert W. Baird currently has an outperform rating on the stock. Copart shares last traded at $41.01, with a volume of 3799400 shares trading hands.
A number of other brokerages have also recently issued reports on CPRT. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Tuesday. J P Morgan Chase & Co lifted their price target on shares of Copart from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. CJS Securities reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Copart in a report on Thursday, October 5th. Jefferies Group LLC lifted their target price on shares of Copart to $40.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Wolfe Research assumed coverage on shares of Copart in a report on Tuesday, November 7th. They issued a “market perform” rating for the company. 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 has an average rating of “Hold” and a consensus price target of $41.40.
In other Copart news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Copart in the second quarter worth approximately $485,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Copart in the second quarter worth approximately $1,418,000. Principal Financial Group Inc. grew its stake in shares of Copart by 106.5% in the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after acquiring an additional 3,826,242 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Copart in the second quarter worth approximately $4,179,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Copart by 127.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock worth $208,433,000 after acquiring an additional 3,672,956 shares during the period. 81.03% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $9,479.58, a P/E ratio of 30.60, a P/E/G ratio of 1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.26 and a quick ratio of 1.91.
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, Inc. will post 1.41 earnings per share for the current fiscal year.
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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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