Copart (NASDAQ:CPRT) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Copart (NASDAQ:CPRT) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have $40.00 target price on the business services provider’s stock, up from their previous target price of $32.00.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $38.83.

Copart Price Performance

Shares of CPRT stock opened at $33.72 on Thursday. Copart has a fifty-two week low of $26.81 and a fifty-two week high of $49.16. The stock’s 50-day moving average is $30.07 and its two-hundred day moving average is $32.26. The firm has a market cap of $31.22 billion, a P/E ratio of 20.94, a PEG ratio of 2.03 and a beta of 1.03.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. BlackRock Inc. acquired a new position in Copart during the second quarter valued at approximately $1,908,980,000. California State Teachers Retirement System grew its stake in Copart by 2,995.5% in the 2nd quarter. California State Teachers Retirement System now owns 40,541,392 shares of the business services provider’s stock valued at $1,142,862,000 after buying an additional 39,231,718 shares during the last quarter. State Street Corp grew its stake in Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after buying an additional 492,506 shares during the last quarter. Capital World Investors raised its holdings in Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after acquiring an additional 131,703 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

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.