Analysts’ Weekly Ratings Changes for Copart (CPRT)
Several brokerages have updated their recommendations and price targets on shares of Copart (NASDAQ: CPRT) in the last few weeks:
- 9/26/2016 – Copart was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “Copart reported better-than-expected earnings and revenues in fourth-quarter fiscal 2016. The company is gaining from several tailwinds such as rising revenues and geographic expansion. The company also occasionally repurchases shares to boost shareholder value. However, foreign currency fluctuations are adversely affecting Copart’s revenues. Improving safety features in vehicles may also impact inventory levels in the long run.”
- 9/23/2016 – Copart was downgraded by analysts at Barrington Research from an “outperform” rating to a “market perform” rating.
- 9/23/2016 – Copart was upgraded by analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating. They now have a $63.00 price target on the stock, up previously from $52.00.
- 9/22/2016 – Copart was given a new $61.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
- 9/22/2016 – Copart had its price target raised by analysts at Jefferies Group from $53.00 to $55.00. They now have a “hold” rating on the stock.
- 9/14/2016 – Copart was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Copart is benefiting from several tailwinds such as rising revenues, declining expenses and geographic expansion. The company also occasionally repurchases shares to boost shareholder value. However, declining revenue from vehicle sales has been hampering Copart’s operating results. Foreign currency fluctuations and improving safety features in vehicles are other headwinds. Copart’s earnings estimates for fourth-quarter fiscal 2016 have inched up over the last seven days, although annual estimates have been stable lately. The company has a mostly positive record of earnings surprises in recent quarters.”
- 8/25/2016 – Copart was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating.
- 8/25/2016 – Copart is now covered by analysts at Susquehanna. They set a “neutral” rating and a $53.00 price target on the stock.
Copart Inc. (NASDAQ:CPRT) traded up 0.904% on Wednesday, reaching $54.135. The company had a trading volume of 507,088 shares. The stock’s 50 day moving average is $52.18 and its 200-day moving average is $48.06. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85. The stock has a market capitalization of $6.18 billion, a P/E ratio of 24.495 and a beta of 0.95.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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. The business had revenue of $332.70 million for the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities analysts predict that Copart Inc. will post $2.42 EPS for the current fiscal year.
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In other news, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $10,722,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider William E. Franklin sold 100,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total value of $5,295,000.00. The disclosure for this sale can be found here. 19.40% of the stock is owned by insiders.
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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