Barrington Research Begins Coverage on Copart (NASDAQ:CPRT)

Investment analysts at Barrington Research initiated coverage on shares of Copart (NASDAQ:CPRT) in a report released on Friday, TipRanks reports. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other brokerages have also weighed in on CPRT. Stephens lowered their price objective on Copart from $95.00 to $73.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. BidaskClub upgraded Copart from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 8th. Robert W. Baird lowered their price objective on Copart from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Cfra lowered their price objective on Copart from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Northcoast Research raised their price objective on Copart from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Copart presently has an average rating of “Buy” and an average price target of $83.89.

CPRT stock opened at $86.25 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.08 and a current ratio of 2.13. Copart has a 1 year low of $55.69 and a 1 year high of $104.88. The firm has a market cap of $20.19 billion, a P/E ratio of 34.84 and a beta of 1.11. The stock has a 50-day simple moving average of $75.19 and a 200-day simple moving average of $85.34.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, May 20th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.06). Copart had a net margin of 30.95% and a return on equity of 30.34%. The company had revenue of $550.36 million during the quarter, compared to analyst estimates of $547.05 million. During the same quarter last year, the business posted $0.66 EPS. Copart’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Copart will post 2.35 EPS for the current year.

In other news, Director Daniel J. Englander sold 70,428 shares of Copart stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $60.05, for a total value of $4,229,201.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Willis J. Johnson sold 462,722 shares of Copart stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $71.44, for a total value of $33,056,859.68. The disclosure for this sale can be found here. 14.34% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NWK Group Inc. bought a new stake in shares of Copart in the 4th quarter worth approximately $36,000. Solstein Capital LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $37,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Copart by 64.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the business services provider’s stock worth $40,000 after purchasing an additional 174 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Copart by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the business services provider’s stock worth $45,000 after purchasing an additional 210 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $50,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Analyst Recommendations for Copart (NASDAQ:CPRT)

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