Copart (NASDAQ:CPRT) Price Target Raised to $60.00 at JPMorgan Chase & Co.

Copart (NASDAQ:CPRT) had its price target upped by investment analysts at JPMorgan Chase & Co. from $55.00 to $60.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.04% from the stock’s previous close.

Separately, Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Down 0.1 %

Shares of CPRT stock traded down $0.05 on Tuesday, reaching $56.58. 512,678 shares of the stock were exchanged, compared to its average volume of 4,374,085. Copart has a 1-year low of $46.21 and a 1-year high of $58.58. The stock has a market cap of $54.51 billion, a P/E ratio of 40.71 and a beta of 1.27. The firm has a 50 day moving average of $53.13 and a two-hundred day moving average of $53.11.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Copart will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Copart

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. Optimum Investment Advisors lifted its holdings in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart in the 3rd quarter valued at $29,000. Quarry LP bought a new stake in Copart in the third quarter worth $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Company Profile

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.