Copart, Inc. (NASDAQ:CPRT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $35.83 and last traded at $35.85, with a volume of 320,702 shares trading hands. The stock had previously closed at $35.56.
Several research firms have recently issued reports on CPRT. CJS Securities reissued an “outperform” rating and set a $42.00 target price on shares of Copart in a research note on Thursday, October 5th. Robert W. Baird boosted their target price on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $33.00 target price on shares of Copart in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Copart currently has an average rating of “Hold” and a consensus price target of $37.33.
The stock has a market cap of $8.33 billion, a P/E ratio of 21.75 and a beta of 1.19. The firm has a 50 day moving average of $33.47 and a 200 day moving average of $33.98.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. Copart’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Equities analysts predict that Copart, Inc. will post $1.43 EPS for the current year.
In other Copart news, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the transaction, the president now directly owns 47,660 shares in the company, valued at approximately $1,635,691.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total value of $5,492,800.00. Following the transaction, the director now owns 3,500 shares in the company, valued at $120,155. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. UBS Asset Management Americas Inc. increased its holdings in Copart by 6.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 73,137 shares of the business services provider’s stock worth $4,529,000 after purchasing an additional 4,202 shares during the period. Prudential Financial Inc. increased its holdings in Copart by 7.5% during the 1st quarter. Prudential Financial Inc. now owns 63,529 shares of the business services provider’s stock worth $3,934,000 after purchasing an additional 4,440 shares during the period. Victory Capital Management Inc. increased its holdings in Copart by 35.9% during the 1st quarter. Victory Capital Management Inc. now owns 26,797 shares of the business services provider’s stock worth $1,660,000 after purchasing an additional 7,073 shares during the period. Neuberger Berman Group LLC increased its holdings in Copart by 0.8% during the 1st quarter. Neuberger Berman Group LLC now owns 16,826 shares of the business services provider’s stock worth $1,042,000 after purchasing an additional 126 shares during the period. Finally, Credit Agricole S A increased its holdings in Copart by 28.2% during the 1st quarter. Credit Agricole S A now owns 18,675 shares of the business services provider’s stock worth $578,000 after purchasing an additional 4,110 shares during the period. Institutional investors own 79.59% of the company’s stock.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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