Copart (NASDAQ:CPRT) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Friday, September 21st, MarketBeat reports. They presently have a $47.00 price target on the business services provider’s stock, down from their prior price target of $48.00. JPMorgan Chase & Co.’s price target would indicate a potential downside of 6.71% from the stock’s previous close.

Several other research firms have also recently commented on CPRT. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, July 17th. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Barrington Research reissued a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Gabelli raised Copart from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. Finally, SunTrust Banks set a $63.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $55.14.

Shares of NASDAQ CPRT traded up $1.33 during trading on Friday, reaching $50.38. The stock had a trading volume of 2,159,025 shares, compared to its average volume of 2,075,697. Copart has a fifty-two week low of $35.32 and a fifty-two week high of $67.08. The company has a current ratio of 2.56, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $11.97 billion, a PE ratio of 29.12, a PEG ratio of 1.04 and a beta of 1.00.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Copart had a net margin of 23.14% and a return on equity of 29.92%. The firm had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities analysts predict that Copart will post 2.15 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its position in shares of Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after acquiring an additional 926 shares in the last quarter. Financial Architects Inc boosted its position in shares of Copart by 211.7% during the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock worth $151,000 after acquiring an additional 1,812 shares in the last quarter. Atlantic Trust LLC acquired a new position in shares of Copart during the 2nd quarter worth about $165,000. CENTRAL TRUST Co boosted its position in shares of Copart by 1,457.5% during the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock worth $176,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Copart by 119.4% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock worth $192,000 after acquiring an additional 1,850 shares in the last quarter. 83.11% 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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Analyst Recommendations for Copart (NASDAQ:CPRT)

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