Copart (CPRT) Lowered to Equal Weight at Stephens

Stephens lowered shares of Copart (NASDAQ:CPRT) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

CPRT has been the subject of a number of other research reports. Guggenheim initiated coverage on shares of Copart in a research note on Tuesday, April 17th. They issued a buy rating and a $58.00 price target for the company. SunTrust Banks initiated coverage on shares of Copart in a research note on Thursday, March 22nd. They issued a buy rating and a $58.00 price target for the company. BidaskClub cut shares of Copart from a hold rating to a sell rating in a research note on Wednesday, January 31st. ValuEngine upgraded shares of Copart from a sell rating to a hold rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research cut shares of Copart from a strong-buy rating to a hold rating in a research note on Tuesday, May 1st. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $49.13.

Copart stock traded down $2.22 during mid-day trading on Friday, reaching $54.07. The company’s stock had a trading volume of 2,263,311 shares, compared to its average volume of 1,263,241. The company has a market cap of $13.06 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. Copart has a 12 month low of $28.89 and a 12 month high of $56.78. The company has a current ratio of 1.78, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30.

Copart (NASDAQ:CPRT) last released its earnings results on Monday, February 26th. The business services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $459.11 million during the quarter, compared to the consensus estimate of $427.11 million. Copart had a net margin of 20.95% and a return on equity of 30.94%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. equities research analysts forecast that Copart will post 1.74 EPS for the current year.

In other news, Director Matt Blunt sold 13,333 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $50.74, for a total transaction of $676,516.42. Following the completion of the sale, the director now owns 3,333 shares in the company, valued at approximately $169,116.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 16.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Copart by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,787,054 shares of the business services provider’s stock worth $120,373,000 after buying an additional 11,360 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Copart by 2.3% during the 4th quarter. BlackRock Inc. now owns 16,320,194 shares of the business services provider’s stock worth $704,869,000 after buying an additional 370,808 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Copart by 41.6% during the 4th quarter. Deutsche Bank AG now owns 714,101 shares of the business services provider’s stock worth $30,838,000 after buying an additional 209,698 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Copart by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 436,520 shares of the business services provider’s stock worth $18,853,000 after buying an additional 44,878 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in shares of Copart by 28.1% during the 4th quarter. Suntrust Banks Inc. now owns 13,270 shares of the business services provider’s stock worth $572,000 after buying an additional 2,910 shares during the last quarter. Institutional investors own 81.36% of the company’s stock.

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.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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