Copart (NASDAQ:CPRT) Reaches New 52-Week High at $57.91

Shares of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week high on Wednesday . The company traded as high as $57.91 and last traded at $57.66, with a volume of 369774 shares trading hands. The stock had previously closed at $57.22.

Analyst Ratings Changes

CPRT has been the subject of a number of recent research reports. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. assumed coverage on Copart in a report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price target for the company. Finally, HSBC initiated 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Copart Price Performance

The firm has a market capitalization of $55.69 billion, a price-to-earnings ratio of 41.67 and a beta of 1.22. The firm has a 50 day moving average price of $52.32 and a 200-day moving average price of $48.72.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. Equities research analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last three months, insiders have sold 705,000 shares of company stock valued at $35,910,750. Insiders own 10.23% of the company’s stock.

Institutional Trading of Copart

A number of large investors have recently made changes to their positions in CPRT. Nomura Holdings Inc. boosted its holdings in shares of Copart by 148.0% in the fourth quarter. Nomura Holdings Inc. now owns 17,612 shares of the business services provider’s stock valued at $863,000 after acquiring an additional 10,511 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Copart in the 4th quarter valued at $495,000. Trust Co. of Vermont acquired a new stake in Copart during the 4th quarter worth $38,000. American International Group Inc. grew its position in Copart by 1.4% during the 4th quarter. American International Group Inc. now owns 348,695 shares of the business services provider’s stock worth $17,086,000 after purchasing an additional 4,820 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Copart by 11.0% during the fourth quarter. EP Wealth Advisors LLC now owns 8,788 shares of the business services provider’s stock worth $431,000 after buying an additional 872 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Company Profile

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.