Copart (CPRT) Upgraded at Zacks Investment Research

Copart (NASDAQ:CPRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $47.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.17% from the stock’s previous close.

According to Zacks, “Copart has been expanding its presence through aggressive acquisitions of other businesses to boost its top-line performance and strengthen its footprint. Further,it is widening its existing networks to manage inflating volumes and access new markets. Its top line received a boost and has started improving after witnessing temporal weakness due to lower revenues from vehicle sales. Also, in the last six months, shares of the company have outperformed the industry it belongs to.”

Several other analysts have also commented on the company. Gabelli reaffirmed a “hold” rating on shares of Copart in a research note on Friday, November 24th. Wolfe Research initiated coverage on Copart in a research note on Tuesday, November 7th. They issued a “market perform” rating on the stock. BidaskClub raised Copart from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Stephens set a $49.00 price target on Copart and gave the company a “hold” rating in a research note on Wednesday, January 17th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $44.00 price target on shares of Copart in a research note on Friday, November 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.17.

Shares of Copart (NASDAQ CPRT) traded down $0.21 during trading hours on Thursday, hitting $41.53. The stock had a trading volume of 421,896 shares, compared to its average volume of 965,037. Copart has a one year low of $28.44 and a one year high of $46.09. The firm has a market cap of $9,659.25, a price-to-earnings ratio of 32.73, a PEG ratio of 1.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.26 and a quick ratio of 2.23.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The company had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. During the same quarter last year, the firm earned $0.29 EPS. equities research analysts anticipate that Copart will post 1.52 EPS for the current fiscal year.

In other Copart news, Director Daniel J. Englander sold 68,004 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Matt Blunt sold 116,667 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total value of $4,895,347.32. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado boosted its stake in Copart by 3.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 42,575 shares of the business services provider’s stock worth $1,839,000 after purchasing an additional 1,265 shares in the last quarter. Sei Investments Co. boosted its stake in Copart by 3.2% in the third quarter. Sei Investments Co. now owns 44,899 shares of the business services provider’s stock worth $1,544,000 after purchasing an additional 1,382 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Copart by 6.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 25,164 shares of the business services provider’s stock worth $1,087,000 after acquiring an additional 1,442 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Copart by 8.4% during the third quarter. Advisors Asset Management Inc. now owns 23,040 shares of the business services provider’s stock worth $792,000 after acquiring an additional 1,778 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Copart by 1.0% during the fourth quarter. Comerica Bank now owns 173,484 shares of the business services provider’s stock worth $7,759,000 after acquiring an additional 1,782 shares during the last quarter. 78.08% of the stock is currently owned by institutional investors.

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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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