Copart (CPRT) Stock Rating Upgraded by BidaskClub

Copart (NASDAQ:CPRT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Several other equities analysts also recently commented on the company. Stephens upgraded Copart from an “equal weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Monday. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, February 8th. Robert W. Baird reiterated a “buy” rating and set a $46.00 price target on shares of Copart in a report on Friday, December 22nd. Gabelli reiterated a “hold” rating on shares of Copart in a report on Friday, November 24th. Finally, JPMorgan Chase & Co. increased their price target on Copart from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 24th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.33.

Copart (NASDAQ CPRT) opened at $44.90 on Thursday. The firm has a market cap of $10,390.00, a P/E ratio of 35.08, a P/E/G ratio of 1.40 and a beta of 1.12. The company has a current ratio of 2.26, a quick ratio of 2.23 and a debt-to-equity ratio of 0.46. Copart has a 52-week low of $28.44 and a 52-week high of $46.09.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The company had revenue of $419.17 million for the quarter, compared to the consensus estimate of $377.37 million. During the same quarter last year, the company posted $0.29 earnings per share. equities analysts expect that Copart will post 1.52 EPS for the current year.

In other news, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total value of $4,895,347.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 68,004 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total transaction of $2,950,013.52. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CPRT. Dimensional Fund Advisors LP grew its stake in shares of Copart by 97.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,379,259 shares of the business services provider’s stock worth $43,844,000 after acquiring an additional 679,362 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Copart by 101.5% in the second quarter. Macquarie Group Ltd. now owns 101,151 shares of the business services provider’s stock worth $3,216,000 after acquiring an additional 50,960 shares during the last quarter. State Street Corp grew its stake in shares of Copart by 98.2% in the second quarter. State Street Corp now owns 5,371,016 shares of the business services provider’s stock worth $170,744,000 after acquiring an additional 2,660,809 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Copart by 102.2% in the second quarter. The Manufacturers Life Insurance Company now owns 387,721 shares of the business services provider’s stock worth $12,325,000 after acquiring an additional 195,968 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Copart by 82.2% in the second quarter. California State Teachers Retirement System now owns 353,973 shares of the business services provider’s stock worth $11,253,000 after acquiring an additional 159,717 shares during the last quarter. Institutional investors and hedge funds own 77.81% of the company’s stock.

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About Copart

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.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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