Copart, Inc. (NASDAQ:CPRT) Receives $51.00 Consensus PT from Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have been assigned a consensus rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $51.00.

Several analysts have recently commented on CPRT shares. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th.

Insider Buying and Selling

In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Copart

A number of large investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of Copart by 64.1% during the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after buying an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Copart by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after purchasing an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp lifted its stake in shares of Copart by 57.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after purchasing an additional 23,304 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Copart by 29.0% during the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after purchasing an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Copart by 72.5% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,618 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $53.30 on Friday. Copart has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The firm has a market capitalization of $51.25 billion, a price-to-earnings ratio of 38.35 and a beta of 1.22. The stock’s fifty day moving average is $54.40 and its two-hundred day moving average is $50.21.

Copart (NASDAQ:CPRT) last released 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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Copart’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Copart will post 1.42 EPS for the current fiscal year.

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.