Copart, Inc. (NASDAQ:CPRT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Copart, Inc. (NASDAQ:CPRT) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $44.50.

Several research firms recently commented on CPRT. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st.

Copart Trading Up 4.2%

Shares of NASDAQ:CPRT opened at $30.01 on Friday. Copart has a 12-month low of $27.84 and a 12-month high of $50.11. The business has a 50 day moving average of $31.86 and a two-hundred day moving average of $35.29. The company has a market capitalization of $27.78 billion, a PE ratio of 18.64 and a beta of 1.02.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Copart will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CPRT. Brighton Jones LLC raised its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the period. Jump Financial LLC purchased a new stake in shares of Copart during the second quarter worth about $2,677,000. Sei Investments Co. increased its stake in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.