Copart, Inc. (CPRT) Receives “Outperform” Rating from CJS Securities
Copart, Inc. (NASDAQ:CPRT)‘s stock had its “outperform” rating reissued by CJS Securities in a note issued to investors on Thursday, October 5th. They currently have a $42.00 target price on the business services provider’s stock. CJS Securities’ target price points to a potential upside of 15.64% from the company’s current price.
CPRT has been the topic of several other reports. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 target price on shares of Copart in a research report on Thursday, July 6th. Robert W. Baird lifted their price target on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.33.
Copart (NASDAQ CPRT) traded up 0.58% during midday trading on Thursday, hitting $36.32. The company had a trading volume of 1,075,449 shares. The stock has a market cap of $8.38 billion, a PE ratio of 21.88 and a beta of 1.19. The stock’s 50-day moving average price is $33.60 and its 200-day moving average price is $33.80. Copart has a 52-week low of $28.89 and a 52-week high of $63.14.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Copart will post $1.43 EPS for the current fiscal year.
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In related news, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the transaction, the president now owns 47,660 shares in the company, valued at $1,635,691.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the transaction, the director now owns 3,500 shares of the company’s stock, valued at approximately $120,155. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Copart by 103.5% in the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock valued at $514,387,000 after buying an additional 8,230,677 shares during the period. BlackRock Inc. boosted its holdings in Copart by 103.6% during the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock worth $511,611,000 after purchasing an additional 8,189,852 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Copart by 91.4% during the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock worth $334,636,000 after purchasing an additional 5,025,918 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Copart by 30.6% during the second quarter. Lazard Asset Management LLC now owns 8,842,644 shares of the business services provider’s stock worth $281,107,000 after purchasing an additional 2,070,426 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Copart by 106.5% during the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after purchasing an additional 3,826,242 shares during the last quarter. Institutional investors own 79.59% of the company’s stock.
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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