Copart, Inc. (NASDAQ:CPRT) Receives $51.00 Average Target Price from Analysts

Copart, Inc. (NASDAQ:CPRT) has been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $51.00.

Several analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. lifted their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st.

Copart Trading Up 0.8 %

Shares of NASDAQ:CPRT opened at $53.30 on Friday. Copart has a 12 month low of $38.35 and a 12 month high of $58.58. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 38.35 and a beta of 1.22. The firm’s 50-day moving average is $54.40 and its 200 day moving average is $50.21.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that Copart will post 1.42 EPS for the current fiscal year.

Insider Activity

In related news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 over the last ninety days. 10.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Copart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its stake in shares of Copart by 103.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 69,396 shares of the business services provider’s stock worth $2,990,000 after acquiring an additional 35,322 shares in the last quarter. CWM LLC grew its stake in Copart by 108.1% in the 3rd quarter. CWM LLC now owns 24,693 shares of the business services provider’s stock valued at $1,064,000 after acquiring an additional 12,826 shares during the period. AE Wealth Management LLC increased its holdings in Copart by 90.9% in the 3rd quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock worth $840,000 after acquiring an additional 9,287 shares in the last quarter. Moody National Bank Trust Division raised its position in Copart by 105.8% during the third quarter. Moody National Bank Trust Division now owns 9,881 shares of the business services provider’s stock worth $426,000 after acquiring an additional 5,079 shares during the period. Finally, DnB Asset Management AS raised its position in Copart by 101.3% during the third quarter. DnB Asset Management AS now owns 181,858 shares of the business services provider’s stock worth $7,836,000 after acquiring an additional 91,496 shares during the period. 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.