Copart, Inc. (NASDAQ:CPRT) Given Average Recommendation of “Hold” by Brokerages

Copart, Inc. (NASDAQ:CPRT) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $51.00.

A number of analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st.

Copart Trading Up 0.9 %

Shares of CPRT opened at $55.73 on Friday. The company has a market cap of $53.58 billion, a PE ratio of 40.09 and a beta of 1.22. The stock has a 50-day moving average price of $54.86 and a 200-day moving average price of $50.41. Copart has a 12-month low of $38.53 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, analysts predict that Copart will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Copart

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB raised its holdings in shares of Copart by 64.1% during the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after acquiring an additional 563,233 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Copart by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock valued at $139,554,000 after acquiring an additional 44,248 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Copart by 57.9% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after acquiring an additional 23,304 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Copart by 29.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after acquiring an additional 262,499 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in Copart by 72.5% in the third quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,618 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

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.