Copart Inc. (CPRT) PT Raised to $55.00
Copart Inc. (NASDAQ:CPRT) had its target price boosted by equities research analysts at Jefferies Group from $53.00 to $55.00 in a research report issued on Thursday, StockTargetPrices.com reports. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective suggests a potential upside of 2.80% from the company’s current price.
CPRT has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Copart from $43.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, May 27th. Northcoast Research lowered shares of Copart from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Susquehanna initiated coverage on shares of Copart in a research report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Eight research analysts have rated the stock with a hold rating, Copart has a consensus rating of “Hold” and a consensus price target of $52.40.
Shares of Copart (NASDAQ:CPRT) traded up 0.11% during mid-day trading on Thursday, hitting $53.56. 115,573 shares of the stock were exchanged. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 27.51 and a beta of 0.99. The stock’s 50-day moving average is $51.12 and its 200-day moving average is $46.75. Copart has a 52 week low of $32.26 and a 52 week high of $54.85.
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Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 30.97%. The company had revenue of $332.70 million for the quarter. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts forecast that Copart will post $2.34 earnings per share for the current fiscal year.
In related news, SVP Paul A. Styer sold 7,640 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total transaction of $376,346.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total transaction of $628,346.92. Following the transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at approximately $484,761.88. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Copart during the second quarter valued at approximately $2,823,000. Mason Street Advisors LLC purchased a new position in shares of Copart during the second quarter valued at approximately $2,225,000. Calvert Investment Management Inc. purchased a new position in shares of Copart during the second quarter valued at approximately $374,000. Schwab Charles Investment Management Inc. boosted its position in shares of Copart by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 381,972 shares of the company’s stock valued at $18,721,000 after buying an additional 9,365 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Copart by 2.4% in the second quarter. Stifel Financial Corp now owns 84,983 shares of the company’s stock valued at $4,166,000 after buying an additional 2,021 shares in the last quarter. 83.65% of the stock is owned by institutional investors.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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