Copart, Inc. (NASDAQ:CPRT) – Equities research analysts at Northcoast Research lowered their Q3 2020 earnings per share (EPS) estimates for shares of Copart in a research note issued to investors on Monday, March 23rd. Northcoast Research analyst J. Healy now expects that the business services provider will earn $0.56 per share for the quarter, down from their previous forecast of $0.71. Northcoast Research currently has a “Buy” rating on the stock.
A number of other equities analysts have also weighed in on CPRT. Robert W. Baird decreased their target price on Copart from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. BidaskClub lowered Copart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. SunTrust Banks boosted their target price on Copart from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Barrington Research reissued a “hold” rating on shares of Copart in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.60.
Shares of NASDAQ:CPRT opened at $72.56 on Wednesday. Copart has a fifty-two week low of $55.69 and a fifty-two week high of $104.88. The business has a 50-day simple moving average of $85.21 and a two-hundred day simple moving average of $87.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.08 and a current ratio of 2.13. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 23.64 and a beta of 0.97.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. The company had revenue of $575.10 million for the quarter, compared to analysts’ expectations of $576.09 million. Copart had a net margin of 32.95% and a return on equity of 32.56%. Copart’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS.
In other news, Director Thomas N. Tryforos sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $95.33, for a total transaction of $4,766,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Englander sold 70,428 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $60.05, for a total transaction of $4,229,201.40. The disclosure for this sale can be found here. In the last three months, insiders sold 281,895 shares of company stock valued at $24,174,699. 14.34% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in shares of Copart by 26.5% during the 4th quarter. American International Group Inc. now owns 87,642 shares of the business services provider’s stock valued at $7,970,000 after purchasing an additional 18,371 shares during the last quarter. ProShare Advisors LLC increased its holdings in Copart by 689.5% in the 4th quarter. ProShare Advisors LLC now owns 191,513 shares of the business services provider’s stock worth $17,416,000 after acquiring an additional 167,255 shares in the last quarter. IFP Advisors Inc increased its holdings in Copart by 18.0% in the 4th quarter. IFP Advisors Inc now owns 1,989 shares of the business services provider’s stock worth $188,000 after acquiring an additional 304 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Copart by 1,726.4% in the 4th quarter. Acadian Asset Management LLC now owns 102,646 shares of the business services provider’s stock worth $9,336,000 after acquiring an additional 97,026 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Copart in the 4th quarter worth approximately $56,000. 78.58% of the stock is owned by hedge funds and other institutional investors.
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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