Copart (CPRT) Shares Up 1.9% on Analyst Upgrade

Copart, Inc. (NASDAQ:CPRT)’s share price shot up 1.9% on Friday after SunTrust Banks raised their price target on the stock to $78.00. SunTrust Banks currently has a buy rating on the stock. Copart traded as high as $70.47 and last traded at $71.29. 66,202 shares traded hands during trading, a decline of 95% from the average session volume of 1,307,740 shares. The stock had previously closed at $69.94.

Several other equities analysts have also recently weighed in on the stock. Guggenheim cut shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price for the company. in a research note on Friday, May 17th. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday, February 19th. Finally, BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Copart presently has an average rating of “Hold” and a consensus price target of $66.52.

Several large investors have recently modified their holdings of CPRT. Norges Bank purchased a new position in shares of Copart in the 4th quarter worth $161,051,000. Oregon Public Employees Retirement Fund grew its stake in shares of Copart by 2,981.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,084,103 shares of the business services provider’s stock worth $65,000 after buying an additional 2,984,019 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Copart by 242.7% in the 1st quarter. Wellington Management Group LLP now owns 2,546,732 shares of the business services provider’s stock worth $154,307,000 after buying an additional 1,803,686 shares in the last quarter. FMR LLC grew its stake in shares of Copart by 17.2% in the 1st quarter. FMR LLC now owns 7,226,373 shares of the business services provider’s stock worth $437,846,000 after buying an additional 1,059,798 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in shares of Copart by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 21,828,682 shares of the business services provider’s stock worth $1,124,833,000 after buying an additional 795,115 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $16.20 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 1.69.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The firm had revenue of $553.12 million during the quarter, compared to analyst estimates of $535.62 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. Analysts anticipate that Copart, Inc. will post 2.15 EPS for the current year.

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About Copart (NASDAQ:CPRT)

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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