Jefferies Group Raises Copart Inc. (CPRT) Price Target to $55.00
Copart Inc. (NASDAQ:CPRT) had its price objective boosted by equities researchers at Jefferies Group from $53.00 to $55.00 in a note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Jefferies Group’s price objective points to a potential upside of 2.80% from the company’s current price.
A number of other research analysts also recently issued reports on CPRT. JPMorgan Chase & Co. lifted their price target on shares of Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, May 27th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Monday, May 30th. Northcoast Research downgraded shares of Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Finally, Susquehanna started coverage on shares of Copart in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $52.40.
Copart (NASDAQ:CPRT) traded up 0.24% during mid-day trading on Thursday, hitting $53.63. 105,472 shares of the stock were exchanged. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 27.54 and a beta of 0.99. Copart has a 52-week low of $32.26 and a 52-week high of $54.85. The company has a 50 day moving average price of $51.12 and a 200 day moving average price of $46.75.
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Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 30.97%. The business earned $332.70 million during the quarter. During the same period in the previous year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts anticipate that Copart will post $2.34 EPS for the current year.
In other 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 filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $49.96, for a total transaction of $628,346.92. Following the sale, the senior vice president now owns 9,703 shares of the company’s stock, valued at approximately $484,761.88. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Advisor Group Inc. bought a new stake in shares of Copart during the second quarter valued at $143,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Copart during the second quarter worth approximately $201,000. Mackenzie Financial Corp acquired a new position in shares of Copart during the second quarter worth approximately $201,000. Highbridge Capital Management LLC acquired a new position in shares of Copart during the second quarter worth approximately $206,000. Finally, Ancora Inverness LLC acquired a new position in shares of Copart during the first quarter worth approximately $207,000. Institutional investors and hedge funds own 83.65% of the company’s stock.
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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