Copart, Inc. (NASDAQ:CPRT) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 6,359,263 shares, a decrease of 30.9% from the October 15th total of 9,203,166 shares. Based on an average daily volume of 1,926,205 shares, the short-interest ratio is currently 3.3 days. Approximately 3.1% of the company’s shares are sold short.
Shares of Copart stock opened at $50.27 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.56 and a quick ratio of 2.50. Copart has a 1-year low of $35.32 and a 1-year high of $67.08. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.04 and a beta of 1.01.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). Copart had a return on equity of 29.92% and a net margin of 23.14%. The business had revenue of $449.20 million for the quarter, compared to analyst estimates of $448.64 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. On average, sell-side analysts forecast that Copart will post 2.13 earnings per share for the current year.
A number of research firms recently weighed in on CPRT. BidaskClub downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. downgraded Copart from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $48.00 to $47.00 in a report on Friday, September 21st. Finally, Northcoast Research restated a “neutral” rating on shares of Copart in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Copart presently has an average rating of “Hold” and an average price target of $55.14.
A number of institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new stake in Copart during the 3rd quarter worth about $3,137,000. DekaBank Deutsche Girozentrale grew its holdings in Copart by 12.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,690 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 3,158 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Copart by 4.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,829 shares of the business services provider’s stock worth $7,463,000 after acquiring an additional 6,400 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Copart during the 3rd quarter worth about $486,000. Finally, FMR LLC grew its holdings in Copart by 18.9% during the 3rd quarter. FMR LLC now owns 7,800,473 shares of the business services provider’s stock worth $401,959,000 after acquiring an additional 1,237,941 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
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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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