Zacks Research Upgrades Copart (NASDAQ:CPRT) to “Hold”

Copart (NASDAQ:CPRT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other equities analysts also recently commented on CPRT. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a research report on Thursday, September 3rd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. upgraded Copart from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Copart Price Performance

Shares of Copart stock opened at $32.60 on Monday. The stock’s 50 day simple moving average is $30.27 and its 200-day simple moving average is $32.16. The stock has a market cap of $30.18 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.62 and a beta of 1.03. Copart has a 1-year low of $26.81 and a 1-year high of $49.11.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of hedge funds and other institutional investors have recently modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new position in Copart in the second quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Cache Advisors LLC acquired a new stake in Copart during the first quarter worth approximately $31,000. Compass Financial Management LLC purchased a new stake in shares of Copart during the 2nd quarter worth approximately $33,000. Finally, Reflection Asset Management acquired a new position in shares of Copart in the 4th quarter valued at $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

About Copart

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.