Copart, Inc. (NASDAQ:CPRT – Free Report) – Research analysts at Barrington Research dropped their Q4 2023 earnings estimates for shares of Copart in a research report issued on Tuesday, September 12th. Barrington Research analyst G. Prestopino now anticipates that the business services provider will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.32. The consensus estimate for Copart’s current full-year earnings is $1.23 per share.
A number of other equities research analysts have also weighed in on CPRT. StockNews.com began coverage on Copart in a research note on Thursday, August 17th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on Copart from $35.00 to $39.50 in a research note on Thursday, July 6th. Argus began coverage on Copart in a report on Friday, September 8th. They set a “buy” rating on the stock. Finally, Robert W. Baird increased their price target on Copart from $39.00 to $45.00 in a report on Thursday, May 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.13.
Copart Stock Up 1.2 %
Shares of CPRT stock opened at $44.85 on Thursday. Copart has a 12-month low of $26.14 and a 12-month high of $47.38. The business has a 50-day moving average price of $50.76 and a two-hundred day moving average price of $43.74. The firm has a market cap of $42.82 billion, a P/E ratio of 37.38 and a beta of 1.19.
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings results on Thursday, September 14th. The business services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $997.59 million for the quarter, compared to the consensus estimate of $962.91 million. Copart had a net margin of 30.72% and a return on equity of 22.80%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS.
Insiders Place Their Bets
In related news, CEO A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $44.16, for a total transaction of $26,496,000.00. Following the transaction, the chief executive officer now directly owns 20,294,060 shares of the company’s stock, valued at $896,185,689.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Copart news, CEO A Jayson Adair sold 600,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $44.16, for a total transaction of $26,496,000.00. Following the sale, the chief executive officer now directly owns 20,294,060 shares of the company’s stock, valued at approximately $896,185,689.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Willis J. Johnson sold 1,320,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $44.54, for a total value of $58,786,200.00. Following the sale, the chairman now directly owns 3,547,664 shares in the company, valued at $157,995,216.24. The disclosure for this sale can be found here. 11.19% of the stock is owned by insiders.
Institutional Trading of Copart
A number of hedge funds have recently bought and sold shares of CPRT. Bank Julius Baer & Co. Ltd Zurich boosted its position in Copart by 83,893.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 72,354,024 shares of the business services provider’s stock valued at $6,599,410,000 after buying an additional 72,267,882 shares during the period. BlackRock Inc. lifted its stake in shares of Copart by 2.6% during the second quarter. BlackRock Inc. now owns 39,500,287 shares of the business services provider’s stock valued at $3,602,821,000 after buying an additional 994,697 shares during the period. Vanguard Group Inc. increased its position in Copart by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock worth $2,881,905,000 after purchasing an additional 270,867 shares during the last quarter. Alliancebernstein L.P. increased its position in Copart by 94.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,519,775 shares of the business services provider’s stock worth $1,066,779,000 after purchasing an additional 8,525,968 shares during the last quarter. Finally, State Street Corp increased its position in shares of Copart by 3.2% in the second quarter. State Street Corp now owns 16,582,550 shares of the business services provider’s stock worth $1,512,494,000 after acquiring an additional 513,244 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.
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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