Copart (NASDAQ:CPRT) Stock Rating Lowered by Zacks Research

Copart (NASDAQ:CPRT) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Finally, Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $43.50.

Copart Trading Up 0.4%

Shares of NASDAQ:CPRT opened at $30.82 on Tuesday. The company has a market capitalization of $28.53 billion, a PE ratio of 19.14 and a beta of 1.02. Copart has a twelve month low of $26.81 and a twelve month high of $50.11. The firm has a 50 day simple moving average of $30.01 and a 200-day simple moving average of $33.87.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, equities research analysts predict that Copart will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Copart

Several hedge funds have recently made changes to their positions in CPRT. Brighton Jones LLC lifted its position in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the period. Jump Financial LLC acquired a new position in shares of Copart in the second quarter valued at approximately $2,677,000. Sei Investments Co. raised its stake in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

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.