Copart, Inc. (NASDAQ:CPRT) saw a significant increase in short interest in the month of September. As of September 28th, there was short interest totalling 5,806,557 shares, an increase of 41.4% from the September 14th total of 4,106,974 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 4,911,101 shares, the short-interest ratio is presently 1.2 days.
CPRT has been the topic of several research reports. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, July 17th. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Tuesday, September 18th. Gabelli raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $55.14.
Several institutional investors have recently modified their holdings of CPRT. Cornerstone Advisors Inc. increased its stake in shares of Copart by 88.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after acquiring an additional 926 shares in the last quarter. Financial Architects Inc grew its position in Copart by 211.7% during the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 1,812 shares during the last quarter. Atlantic Trust LLC purchased a new stake in Copart during the 2nd quarter valued at about $165,000. CENTRAL TRUST Co grew its position in Copart by 1,457.5% during the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 2,915 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Copart by 119.4% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 1,850 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.
Shares of Copart stock opened at $50.38 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.56 and a quick ratio of 2.27. The stock has a market capitalization of $11.97 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 1.04 and a beta of 1.00. Copart has a 1 year low of $35.32 and a 1 year high of $67.08.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). The business had revenue of $449.20 million during the quarter, compared to the consensus estimate of $448.64 million. Copart had a return on equity of 29.92% and a net margin of 23.14%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities research analysts expect that Copart will post 2.15 earnings per share for the current fiscal year.
Copart Company Profile
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.
See Also: What Is An Exchange-Traded Fund (ETF)?
Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.