Copart (NASDAQ:CPRT) had its price target hoisted by Truist from $145.00 to $160.00 in a research report sent to investors on Friday, The Fly reports. The brokerage currently has a buy rating on the business services provider’s stock.
Several other research firms have also issued reports on CPRT. Barrington Research reissued a market perform rating on shares of Copart in a report on Wednesday, September 8th. Truist Securities increased their price objective on shares of Copart from $135.00 to $145.00 and gave the company a buy rating in a report on Friday, May 21st. Robert W. Baird increased their price objective on shares of Copart from $130.00 to $150.00 and gave the company an average rating in a report on Friday. Finally, Zacks Investment Research lowered shares of Copart from a buy rating to a hold rating and set a $152.00 price objective for the company. in a report on Tuesday, August 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $143.83.
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Copart stock opened at $143.23 on Friday. The firm has a 50 day moving average of $142.73 and a 200 day moving average of $127.85. The firm has a market capitalization of $33.89 billion, a price-to-earnings ratio of 36.82 and a beta of 1.03. Copart has a 12-month low of $100.07 and a 12-month high of $149.07. The company has a current ratio of 3.63, a quick ratio of 3.54 and a debt-to-equity ratio of 0.12.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 7th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.12. The company had revenue of $748.63 million during the quarter, compared to analyst estimates of $686.93 million. Copart had a net margin of 34.78% and a return on equity of 29.98%. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, analysts predict that Copart will post 3.92 EPS for the current year.
In related news, CEO A Jayson Adair sold 130,000 shares of the firm’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $139.21, for a total value of $18,097,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven D. Cohan sold 80,000 shares of the stock in a transaction on Monday, July 12th. The stock was sold at an average price of $139.46, for a total value of $11,156,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 573,293 shares of company stock valued at $77,786,349 over the last quarter. Corporate insiders own 12.61% of the company’s stock.
Several institutional investors have recently made changes to their positions in CPRT. BlackRock Inc. lifted its stake in Copart by 3.3% during the 1st quarter. BlackRock Inc. now owns 21,047,150 shares of the business services provider’s stock worth $2,285,932,000 after acquiring an additional 665,082 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 1.8% during the 2nd quarter. Principal Financial Group Inc. now owns 7,390,692 shares of the business services provider’s stock worth $974,316,000 after acquiring an additional 133,183 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Copart by 9.0% during the 2nd quarter. Alliancebernstein L.P. now owns 6,445,811 shares of the business services provider’s stock worth $849,751,000 after acquiring an additional 531,422 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Copart by 32.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,041,484 shares of the business services provider’s stock worth $796,449,000 after purchasing an additional 1,472,685 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Copart by 29.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,903,578 shares of the business services provider’s stock worth $514,610,000 after purchasing an additional 877,756 shares during the period. 81.28% of the stock is currently 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.
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