Copart Inc. (CPRT) Director Sells $3,473,767.98 in Stock
Copart Inc. (NASDAQ:CPRT) Director James E. Meeks sold 64,222 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $54.09, for a total value of $3,473,767.98. Following the completion of the transaction, the director now owns 13,925 shares of the company’s stock, valued at approximately $753,203.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Copart Inc. (NASDAQ:CPRT) traded up 0.32% during midday trading on Tuesday, reaching $54.12. The company’s stock had a trading volume of 439,124 shares. Copart Inc. has a 52 week low of $32.26 and a 52 week high of $54.85. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 24.49 and a beta of 0.95. The company has a 50 day moving average of $52.36 and a 200-day moving average of $48.43.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm earned $332.70 million during the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Equities research analysts predict that Copart Inc. will post $2.42 earnings per share for the current year.
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CPRT has been the subject of a number of research analyst reports. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $63.00 in a research note on Friday, September 23rd. Jefferies Group restated a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Susquehanna initiated coverage on Copart in a research note on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.57.
Several institutional investors have recently modified their holdings of CPRT. Advisor Group Inc. purchased a new position in shares of Copart during the second quarter worth approximately $143,000. Cutler Group LP increased its position in shares of Copart by 64.6% in the third quarter. Cutler Group LP now owns 3,291 shares of the company’s stock worth $176,000 after buying an additional 1,291 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Copart during the second quarter worth approximately $201,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Copart during the second quarter worth approximately $201,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Copart during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
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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