Copart, Inc. (CPRT) Rating Reiterated by CJS Securities
Copart, Inc. (NASDAQ:CPRT)‘s stock had its “outperform” rating reissued by equities researchers at CJS Securities in a note issued to investors on Thursday. They presently have a $42.00 price objective on the business services provider’s stock. CJS Securities’ price target suggests a potential upside of 20.76% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 target price on shares of Copart in a report on Thursday, July 6th. Robert W. Baird raised their target price on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research cut shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.33.
Shares of Copart (CPRT) traded up 1.0066% during trading on Thursday, hitting $35.1301. The company’s stock had a trading volume of 646,711 shares. The company has a 50-day moving average price of $32.85 and a 200-day moving average price of $34.89. Copart has a one year low of $25.37 and a one year high of $35.21. The stock has a market cap of $8.11 billion, a PE ratio of 21.1627 and a beta of 1.19.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The firm had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. During the same quarter last year, the company posted $0.31 earnings per share. Copart’s revenue was up 13.8% on a year-over-year basis. Equities analysts predict that Copart will post $1.42 EPS for the current fiscal year.
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In other Copart news, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total value of $6,864,000.00. Following the sale, the president now owns 47,660 shares in the company, valued at $1,635,691.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the sale, the director now owns 3,500 shares in the company, valued at approximately $120,155. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Large investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new stake in shares of Copart in the second quarter valued at approximately $1,418,000. Principal Financial Group Inc. increased its stake in shares of Copart by 106.5% in the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock valued at $235,810,000 after purchasing an additional 3,826,242 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Copart in the second quarter valued at approximately $4,179,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Copart in the first quarter valued at approximately $254,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Copart by 127.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock valued at $208,433,000 after purchasing an additional 3,672,956 shares during the period. Institutional investors own 79.74% of the company’s stock.
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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