Copart (NASDAQ:CPRT) Rating Lowered to Sell at BidaskClub

Copart (NASDAQ:CPRT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday, July 6th, BidAskClub reports.

CPRT has been the topic of a number of other reports. Zacks Investment Research raised shares of GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks lifted their price objective on shares of Copart to $78.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Barrington Research restated a “hold” rating on shares of Copart in a research report on Friday, May 24th. Finally, Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price on the stock. in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.77.

Shares of CPRT opened at $77.33 on Friday. Copart has a 12 month low of $44.61 and a 12 month high of $77.59. The stock’s 50 day simple moving average is $73.69. The company has a market capitalization of $17.72 billion, a PE ratio of 37.36, a PEG ratio of 1.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The company had revenue of $553.12 million for the quarter, compared to analysts’ expectations of $535.62 million. During the same period last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that Copart will post 2.21 EPS for the current year.

In other news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Friday, May 24th. The shares were sold at an average price of $71.00, for a total transaction of $3,550,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at $3,550,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William E. Franklin sold 8,993 shares of Copart stock in a transaction on Monday, June 10th. The stock was sold at an average price of $75.01, for a total transaction of $674,564.93. Following the transaction, the insider now directly owns 26,960 shares of the company’s stock, valued at approximately $2,022,269.60. The disclosure for this sale can be found here. Insiders sold 382,451 shares of company stock worth $28,026,044 in the last 90 days. Company insiders own 15.99% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CSat Investment Advisory L.P. increased its stake in Copart by 120.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 283 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in Copart in the first quarter valued at $34,000. Cordasco Financial Network increased its stake in Copart by 170.7% in the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 297 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Copart in the first quarter valued at $40,000. Finally, Quadrant Capital Group LLC increased its position in shares of Copart by 170.3% during the first quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock worth $67,000 after acquiring an additional 744 shares in the last quarter. 83.55% of the stock is owned by institutional investors and hedge funds.

About Copart

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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Analyst Recommendations for Copart (NASDAQ:CPRT)

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