Traders Buy High Volume of Call Options on Copart (CPRT)
Copart, Inc. (NASDAQ:CPRT) saw some unusual options trading on Friday. Investors purchased 1,697 call options on the company. This is an increase of 2,511% compared to the typical daily volume of 65 call options.
Copart (NASDAQ:CPRT) opened at $44.85 on Monday. Copart has a 52 week low of $27.74 and a 52 week high of $44.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.23 and a current ratio of 2.26. The firm has a market capitalization of $10,370.00, a P/E ratio of 35.04, a P/E/G ratio of 1.46 and a beta of 1.30.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Copart had a return on equity of 27.20% and a net margin of 18.50%. The business had revenue of $419.17 million for the quarter, compared to the consensus estimate of $377.37 million. During the same period in the prior year, the business earned $0.29 EPS. analysts anticipate that Copart will post 1.52 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its holdings in Copart by 105.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 889,890 shares of the business services provider’s stock worth $28,290,000 after purchasing an additional 456,629 shares in the last quarter. Prudential Financial Inc. increased its holdings in Copart by 101.4% during the 2nd quarter. Prudential Financial Inc. now owns 127,938 shares of the business services provider’s stock worth $4,067,000 after purchasing an additional 64,409 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Copart by 105.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 34,631 shares of the business services provider’s stock worth $1,101,000 after purchasing an additional 17,805 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Copart by 125.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,064 shares of the business services provider’s stock worth $256,000 after purchasing an additional 4,495 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Copart during the 2nd quarter worth approximately $200,000. 78.60% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on CPRT. Robert W. Baird reissued a “buy” rating and issued a $46.00 price objective on shares of Copart in a research note on Friday, December 22nd. JPMorgan Chase & Co. upped their price target on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. BidaskClub downgraded Copart from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Jefferies Group upped their price target on Copart to $40.00 and gave the stock a “hold” rating in a research note on Thursday, November 23rd. Finally, CJS Securities reaffirmed an “outperform” rating and set a $42.00 price target on shares of Copart in a research note on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $41.80.
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Copart Company Profile
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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