Copart, Inc. (NASDAQ:CPRT) Receives Average Recommendation of “Hold” from Analysts
Copart, Inc. (NASDAQ:CPRT) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.67.
CPRT has been the subject of several research reports. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Jefferies Group LLC lifted their price objective on shares of Copart from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, May 30th.
A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its stake in shares of Copart by 12.7% in the first quarter. Comerica Bank now owns 86,533 shares of the business services provider’s stock valued at $2,698,000 after buying an additional 9,735 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Copart during the first quarter valued at approximately $1,294,000. Stifel Financial Corp boosted its stake in shares of Copart by 10.0% in the first quarter. Stifel Financial Corp now owns 77,068 shares of the business services provider’s stock valued at $4,770,000 after buying an additional 7,014 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Copart by 7.3% in the first quarter. Flinton Capital Management LLC now owns 11,928 shares of the business services provider’s stock valued at $739,000 after buying an additional 812 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Copart by 82.0% in the first quarter. Retirement Systems of Alabama now owns 239,689 shares of the business services provider’s stock valued at $14,844,000 after buying an additional 107,995 shares during the last quarter. Institutional investors and hedge funds own 40.15% of the company’s stock.
Shares of Copart (CPRT) traded up 0.13% on Friday, reaching $31.55. 762,007 shares of the company were exchanged. The firm’s 50 day moving average price is $31.31 and its 200 day moving average price is $44.66. Copart has a 52 week low of $24.55 and a 52 week high of $32.17. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.21 and a beta of 1.22.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 24th. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $386.61 million. Copart had a net margin of 29.10% and a return on equity of 33.20%. Copart’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Equities research analysts anticipate that Copart will post $1.25 EPS for the current year.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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