Copart (NASDAQ:CPRT) PT Raised to $74.00

Copart (NASDAQ:CPRTGet Rating) had its target price upped by Robert W. Baird from $68.00 to $74.00 in a research note issued on Friday, The Fly reports. Robert W. Baird’s target price points to a potential upside of 14.87% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Stephens raised their price objective on shares of Copart to $72.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Saturday, November 12th.

Copart Price Performance

Shares of NASDAQ CPRT opened at $64.42 on Friday. The company has a market cap of $30.67 billion, a P/E ratio of 28.82 and a beta of 1.16. Copart has a 1 year low of $51.10 and a 1 year high of $78.31. The firm has a 50-day simple moving average of $56.54 and a two-hundred day simple moving average of $57.71.

Copart (NASDAQ:CPRTGet Rating) last announced its quarterly earnings data on Wednesday, September 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $883.39 million during the quarter, compared to the consensus estimate of $874.14 million. Copart had a net margin of 30.01% and a return on equity of 23.75%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, equities research analysts expect that Copart will post 2.3 EPS for the current year.

Institutional Trading of Copart

Several institutional investors and hedge funds have recently modified their holdings of the stock. Power Corp of Canada bought a new stake in shares of Copart during the third quarter valued at approximately $416,000. Industrial Alliance Investment Management Inc. increased its holdings in Copart by 3.9% during the third quarter. Industrial Alliance Investment Management Inc. now owns 14,815 shares of the business services provider’s stock valued at $1,576,000 after buying an additional 557 shares during the period. M&T Bank Corp increased its holdings in Copart by 1.1% during the third quarter. M&T Bank Corp now owns 39,987 shares of the business services provider’s stock valued at $4,256,000 after buying an additional 428 shares during the period. Glenmede Trust Co. NA increased its holdings in Copart by 85.6% during the third quarter. Glenmede Trust Co. NA now owns 4,743 shares of the business services provider’s stock valued at $504,000 after buying an additional 2,187 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Copart by 15.1% during the third quarter. Captrust Financial Advisors now owns 6,863 shares of the business services provider’s stock valued at $730,000 after buying an additional 898 shares during the period. Institutional investors own 80.92% of the company’s stock.

Copart Company Profile

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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.

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