Copart, Inc. (NASDAQ:CPRT) Receives $50.00 Consensus PT from Analysts

Shares of Copart, Inc. (NASDAQ:CPRT) have earned an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $50.00.

A number of equities research analysts have recently issued reports on CPRT shares. HSBC began coverage on shares of Copart in a research report on Monday, December 4th. They set a “hold” rating and a $51.00 price objective for the company. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. assumed coverage on Copart in a research note on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price objective for the company.

Copart Trading Up 1.2 %

Shares of NASDAQ:CPRT opened at $57.92 on Tuesday. The stock’s 50-day moving average price is $52.32 and its 200-day moving average price is $48.72. The stock has a market capitalization of $55.69 billion, a P/E ratio of 41.67 and a beta of 1.22. Copart has a 12-month low of $36.63 and a 12-month high of $58.15.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that Copart will post 1.42 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Director Daniel J. Englander sold 320,000 shares of Copart stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total transaction of $15,052,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 320,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $47.04, for a total value of $15,052,800.00. The disclosure for this sale can be found here. Insiders sold 705,000 shares of company stock valued at $35,910,750 in the last quarter. 10.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Copart

A number of large investors have recently made changes to their positions in CPRT. Quarry LP purchased a new position in Copart in the first quarter worth approximately $29,000. Cornerstone Planning Group LLC purchased a new position in shares of Copart during the second quarter worth $38,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Copart during the second quarter worth $38,000. Hollencrest Capital Management boosted its position in shares of Copart by 92.1% during the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock worth $33,000 after buying an additional 210 shares during the period. Finally, West Tower Group LLC acquired a new stake in shares of Copart in the second quarter valued at $49,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

About Copart

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.