Copart (NASDAQ:CPRT) Sets New 1-Year Low – What’s Next?
by Renee Jackson · The Cerbat GemCopart, Inc. (NASDAQ:CPRT – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $26.72 and last traded at $26.8450, with a volume of 6088610 shares trading hands. The stock had previously closed at $27.65.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research note on Thursday, September 3rd. HSBC cut shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research report on Wednesday, September 16th. Freedom Broker lowered their price target on Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and an average price target of $37.80.
Get Our Latest Analysis on Copart
Copart Trading Up 2.4%
The firm has a fifty day simple moving average of $30.40 and a 200-day simple moving average of $31.09. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.31 and a beta of 1.06.
Copart (NASDAQ:CPRT – Get Free Report) last issued 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). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities analysts predict that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.
Insider Buying and Selling at Copart
In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.
Institutional Trading of Copart
Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Copart during the 2nd quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new position in shares of Copart during the 2nd quarter valued at $488,663,000. Deutsche Bank AG purchased a new position in shares of Copart during the 2nd quarter valued at $436,413,000. Bank of America Corp DE bought a new position in Copart in the 2nd quarter worth about $191,347,000. Finally, Legal & General Group Plc bought a new stake in shares of Copart during the 2nd quarter valued at about $167,000,000. Institutional investors and hedge funds own 85.78% of the company’s stock.
Copart Company Profile
Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.
Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.
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