Copart (NASDAQ:CPRT) Given New $75.00 Price Target at Guggenheim

Copart (NASDAQ:CPRTGet Rating) had its price target reduced by Guggenheim to $75.00 in a report published on Monday, Stock Target Advisor reports.

A number of other brokerages also recently weighed in on CPRT. StockNews.com downgraded shares of Copart from a buy rating to a hold rating in a research note on Saturday, November 12th. Stephens lifted their price target on shares of Copart to $72.00 and gave the company an overweight rating in a research note on Thursday, November 17th. Finally, Robert W. Baird lifted their price target on shares of Copart from $68.00 to $74.00 in a research note on Friday.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $64.08 on Monday. The firm has a market cap of $30.51 billion, a PE ratio of 28.67 and a beta of 1.16. The firm’s fifty day moving average is $56.65 and its 200-day moving average is $57.75. Copart has a 52 week low of $51.10 and a 52 week high of $76.60.

Copart (NASDAQ:CPRTGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The business services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Copart had a net margin of 30.01% and a return on equity of 23.75%. The company had revenue of $883.39 million for the quarter, compared to analyst estimates of $874.14 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. Copart’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that Copart will post 2.29 EPS for the current year.

Institutional Investors Weigh In On Copart

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Copart by 1.0% during the third quarter. Vanguard Group Inc. now owns 23,612,513 shares of the business services provider’s stock worth $2,512,371,000 after acquiring an additional 245,063 shares in the last quarter. BlackRock Inc. increased its position in shares of Copart by 2.5% during the first quarter. BlackRock Inc. now owns 19,934,489 shares of the business services provider’s stock worth $2,501,179,000 after acquiring an additional 485,924 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Copart by 7.6% during the second quarter. Principal Financial Group Inc. now owns 10,240,115 shares of the business services provider’s stock worth $1,112,690,000 after acquiring an additional 723,905 shares in the last quarter. FMR LLC boosted its holdings in Copart by 23.0% during the second quarter. FMR LLC now owns 4,879,233 shares of the business services provider’s stock worth $530,178,000 after purchasing an additional 913,619 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Copart by 1.0% during the first quarter. Capital World Investors now owns 4,840,297 shares of the business services provider’s stock worth $607,312,000 after purchasing an additional 48,523 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

About Copart

(Get Rating)

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.

See Also

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.