Copart (CPRT) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Copart (NASDAQ:CPRT) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other research firms have also commented on CPRT. Gabelli reiterated a hold rating on shares of Copart in a research report on Friday, November 24th. Robert W. Baird reiterated a buy rating and issued a $44.00 price target on shares of Copart in a research report on Friday, November 24th. J P Morgan Chase & Co increased their price target on shares of Copart from $35.00 to $41.00 and gave the company a neutral rating in a research report on Friday, November 24th. Jefferies Group increased their price target on shares of Copart to $40.00 and gave the company a hold rating in a research report on Thursday, November 23rd. Finally, Zacks Investment Research upgraded shares of Copart from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Tuesday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $41.40.

Copart (NASDAQ CPRT) opened at $43.96 on Thursday. The company has a current ratio of 2.26, a quick ratio of 2.23 and a debt-to-equity ratio of 0.46. Copart has a 1 year low of $27.46 and a 1 year high of $44.19. The firm has a market cap of $10,168.12, a PE ratio of 32.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. The business had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. Copart had a net margin of 20.01% and a return on equity of 29.96%. During the same period in the prior year, the business earned $0.29 earnings per share. equities analysts anticipate that Copart will post 1.5 EPS for the current fiscal year.

In related news, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total transaction of $4,895,347.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the sale, the director now owns 3,500 shares in the company, valued at approximately $120,155. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 476,667 shares of company stock worth $17,252,147. 16.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in Copart by 2.6% during the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after acquiring an additional 111 shares during the last quarter. Sei Investments Co. boosted its position in Copart by 3.2% during the third quarter. Sei Investments Co. now owns 44,899 shares of the business services provider’s stock worth $1,544,000 after acquiring an additional 1,382 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in Copart by 8.2% during the second quarter. Virginia Retirement Systems ET AL now owns 22,400 shares of the business services provider’s stock worth $712,000 after acquiring an additional 1,700 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Copart by 8.4% during the third quarter. Advisors Asset Management Inc. now owns 23,040 shares of the business services provider’s stock worth $792,000 after purchasing an additional 1,778 shares during the period. Finally, Navellier & Associates Inc raised its stake in Copart by 9.9% during the second quarter. Navellier & Associates Inc now owns 19,916 shares of the business services provider’s stock worth $633,000 after purchasing an additional 1,801 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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Copart Company Profile

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.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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