Copart, Inc. (CPRT) Receives $48.67 Consensus PT from Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have received an average recommendation of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $48.67.

CPRT has been the subject of several recent analyst reports. Guggenheim initiated coverage on Copart in a research report on Tuesday, April 17th. They issued a “buy” rating and a $58.00 target price for the company. SunTrust Banks initiated coverage on Copart in a research report on Thursday, March 22nd. They issued a “buy” rating and a $58.00 target price for the company. ValuEngine raised Copart from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut Copart from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, Stephens cut Copart from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 18th.

In related news, CFO Jeffrey Liaw sold 30,000 shares of Copart stock in a transaction on Monday, June 18th. The stock was sold at an average price of $58.41, for a total transaction of $1,752,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO A Jayson Adair sold 200,000 shares of Copart stock in a transaction on Monday, June 11th. The shares were sold at an average price of $57.47, for a total value of $11,494,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,000 shares of company stock valued at $31,686,500. Insiders own 16.40% of the company’s stock.

Several large investors have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its position in shares of Copart by 10.1% in the first quarter. First Republic Investment Management Inc. now owns 10,111 shares of the business services provider’s stock worth $515,000 after buying an additional 931 shares during the last quarter. Navellier & Associates Inc lifted its position in shares of Copart by 3.4% in the first quarter. Navellier & Associates Inc now owns 30,400 shares of the business services provider’s stock worth $1,548,000 after buying an additional 994 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Copart by 3.1% in the first quarter. Hanseatic Management Services Inc. now owns 33,749 shares of the business services provider’s stock worth $1,719,000 after buying an additional 1,017 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Copart by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,793 shares of the business services provider’s stock worth $652,000 after buying an additional 1,109 shares during the last quarter. Finally, State Treasurer State of Michigan lifted its position in shares of Copart by 1.8% in the first quarter. State Treasurer State of Michigan now owns 73,604 shares of the business services provider’s stock worth $3,749,000 after buying an additional 1,300 shares during the last quarter. 79.89% of the stock is owned by institutional investors.

Shares of Copart traded down $1.61, hitting $58.30, during midday trading on Wednesday, MarketBeat.com reports. The company’s stock had a trading volume of 1,504,904 shares, compared to its average volume of 1,600,264. The stock has a market cap of $13.92 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The company has a quick ratio of 2.27, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. Copart has a 1-year low of $30.30 and a 1-year high of $60.43.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, May 23rd. The business services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $478.20 million during the quarter, compared to analysts’ expectations of $434.74 million. Copart had a return on equity of 31.21% and a net margin of 21.81%. During the same quarter last year, the firm posted $0.38 earnings per share. analysts expect that Copart will post 1.79 EPS for the current fiscal year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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