Copart, Inc. (NASDAQ:CPRT) Receives $37.38 Consensus Price Target from Analysts

by · The Cerbat Gem

Shares of Copart, Inc. (NASDAQ:CPRT – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.2222.

A number of equities research analysts recently issued reports on the stock. HSBC lowered shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a report on Wednesday. Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 11th. Robert W. Baird decreased their target price on shares of Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, September 11th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and increased their price target for the company from $32.00 to $40.00 in a research note on Thursday, September 3rd. Finally, Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th.

Read Our Latest Stock Report on CPRT

Copart Stock Down 1.3%

Shares of NASDAQ:CPRT opened at $29.28 on Wednesday. The business has a fifty day moving average of $30.54 and a two-hundred day moving average of $31.86. The stock has a market cap of $27.11 billion, a P/E ratio of 18.89, a PEG ratio of 1.44 and a beta of 1.03. Copart has a 52-week low of $26.81 and a 52-week high of $46.21.

Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Copart will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Copart during the 2nd quarter worth $1,908,980,000. 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 valued at $1,085,588,000 after buying an additional 5,555,101 shares during the period. 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 valued at $906,836,000 after buying an additional 131,703 shares during the period. Bank of New York Mellon Corp lifted its position in Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares during the last quarter. Finally, Norges Bank acquired a new position in Copart in the fourth quarter valued at about $569,569,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

About Copart

(Get Free Report)

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.

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