Copart (NASDAQ:CPRT) Upgraded at Barrington Research

Barrington Research upgraded shares of Copart (NASDAQ:CPRT) from a market perform rating to an outperform rating in a research report sent to investors on Friday, MarketBeat.com reports. Barrington Research currently has $40.00 price objective on the business services provider’s stock.

Other research analysts have also issued reports about the company. Robert W. Baird decreased their target price on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and an average target price of $37.57.

Copart Price Performance

Shares of NASDAQ CPRT opened at $29.95 on Friday. The business’s 50 day moving average price is $30.35 and its two-hundred day moving average price is $32.05. The company has a market cap of $27.73 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03. Copart has a twelve month low of $26.81 and a twelve month high of $48.96.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.41 EPS. Copart’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Copart will post 1.67 EPS for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several institutional investors have recently added to or reduced their stakes in CPRT. C M Bidwell & Associates Ltd. acquired a new position in Copart in the 2nd quarter valued at $25,000. Versant Capital Management Inc lifted its holdings in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after buying an additional 498 shares in the last quarter. Cache Advisors LLC acquired a new stake in shares of Copart during the first quarter worth $31,000. Compass Financial Management LLC bought a new stake in shares of Copart in the second quarter valued at about $33,000. Finally, Reflection Asset Management bought a new stake in shares of Copart in the fourth quarter valued at about $34,000. 85.78% of the stock is currently owned by institutional investors.

Trending Headlines about Copart

Here are the key news stories impacting Copart this week:

• Positive Sentiment: ACV acquisition expands Copart’s addressable market. Copart agreed to acquire ACV Auctions for $10.50 per share in cash, valuing the transaction at approximately $1.9 billion. The deal adds dealer-to-dealer wholesale auctions, vehicle inspection and valuation tools, and automotive data capabilities to Copart’s salvage-auction platform. Management expects the transaction to be earnings-neutral initially and accretive beginning in fiscal 2028. Copart to Acquire ACV, Expanding Position Across the Vehicle Remarketing Ecosystem
• Positive Sentiment: Analyst support improved. Barrington Research upgraded CPRT to “outperform” with a $40 price target, signaling confidence that the ACV combination and Copart’s long-term growth prospects can outweigh near-term challenges. This Copart Analyst Turns Bullish
• Neutral Sentiment: Revenue exceeded expectations, but growth remained modest. Fiscal fourth-quarter revenue rose 2.4% year over year to $1.15 billion, slightly above the $1.14 billion consensus estimate. Vehicle sales increased 8.3%, partially offsetting only 1.4% growth in service revenue. Copart Q4 Revenue Rises 2.4% to $1.15 Billion
• Negative Sentiment: Profitability missed forecasts and declined year over year. Quarterly EPS was $0.35, below the $0.38–$0.39 analyst consensus and down from $0.41 a year earlier. Net income fell 17.4%, gross profit declined 5.5%, and fiscal-year EPS decreased to $1.55 from $1.59. Copart Inc. Lags Q4 Earnings Estimates
• Negative Sentiment: ACV deal scrutiny introduces execution and closing risk. A law firm announced an investigation into whether ACV’s board obtained fair value and conducted an adequate sale process. Separately, Baird lowered its CPRT price target to $38, although it maintained an “outperform” rating. Shareholder Notice Regarding ACV Auctions

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.