Copart, Inc. (NASDAQ:CPRT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.50.

A number of research analysts recently issued reports on CPRT shares. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Barclays reiterated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC purchased a new position in Copart in the 4th quarter worth approximately $25,000. Cache Advisors LLC purchased a new position in Copart in the 1st quarter worth approximately $31,000. Aventura Private Wealth LLC purchased a new position in Copart in the 4th quarter worth approximately $33,000. Reflection Asset Management purchased a new position in Copart in the 4th quarter worth approximately $34,000. Finally, Board of the Pension Protection Fund purchased a new position in Copart in the 4th quarter worth approximately $35,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $30.75 on Monday. The business has a 50-day simple moving average of $32.85 and a two-hundred day simple moving average of $36.18. The company has a market cap of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.01. Copart has a 52-week low of $29.97 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Research analysts anticipate that Copart will post 1.58 EPS for the current fiscal year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.