Robert W. Baird Cuts Copart (NASDAQ:CPRT) Price Target to $52.00

Copart (NASDAQ:CPRT) had its price target decreased by Robert W. Baird from $55.00 to $52.00 in a research report released on Friday, MarketBeat reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

Other equities analysts also recently issued reports about the stock. Stephens reduced their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Barclays reiterated an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.60.

Copart Stock Down 0.7%

Copart stock opened at $40.73 on Friday. The firm has a market cap of $39.42 billion, a P/E ratio of 25.46 and a beta of 1.06. The business has a fifty day moving average of $43.75 and a two-hundred day moving average of $47.78. Copart has a twelve month low of $39.38 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Equities analysts expect that Copart will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Stephens Inc. AR lifted its holdings in shares of Copart by 0.7% during the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 218 shares during the period. Gamco Investors INC. ET AL increased its holdings in Copart by 1.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock worth $712,000 after buying an additional 220 shares during the period. Brooklyn Investment Group raised its position in Copart by 4.0% during the 1st quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider’s stock worth $327,000 after buying an additional 223 shares during the last quarter. Allworth Financial LP lifted its stake in Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 228 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Copart by 15.4% in the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 232 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Company Profile

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.