BidaskClub downgraded shares of Copart (NASDAQ:CPRT) from a strong-buy rating to a buy rating in a research note released on Saturday.
CPRT has been the subject of a number of other research reports. Zacks Investment Research cut shares of Copart from a buy rating to a hold rating in a report on Thursday, August 2nd. Stephens cut shares of Copart from an overweight rating to an equal weight rating in a report on Friday, May 18th. Barrington Research restated a hold rating on shares of Copart in a report on Monday, May 28th. Finally, Gabelli restated a hold rating on shares of Copart in a report on Friday, May 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $51.38.
Shares of NASDAQ CPRT opened at $64.83 on Friday. The company has a market cap of $15.39 billion, a P/E ratio of 50.26, a PEG ratio of 1.35 and a beta of 0.94. The company has a quick ratio of 2.27, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. Copart has a 52-week low of $32.27 and a 52-week high of $67.08.
In other Copart news, insider William E. Franklin sold 90,000 shares of Copart stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $58.94, for a total value of $5,304,600.00. Following the transaction, the insider now owns 107,462 shares of the company’s stock, valued at $6,333,810.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Liaw sold 30,000 shares of Copart stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $58.41, for a total transaction of $1,752,300.00. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. lifted its stake in Copart by 88.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after buying an additional 926 shares in the last quarter. Signaturefd LLC bought a new position in Copart in the first quarter valued at approximately $111,000. Financial Architects Inc lifted its stake in Copart by 211.7% in the second quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock valued at $151,000 after buying an additional 1,812 shares in the last quarter. Atlantic Trust LLC bought a new position in Copart in the second quarter valued at approximately $165,000. Finally, CENTRAL TRUST Co lifted its stake in Copart by 1,457.5% in the second quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock valued at $176,000 after buying an additional 2,915 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.
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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