Copart, Inc. (NASDAQ:CPRT) Receives $54.50 Average Price Target from Analysts

Copart, Inc. (NASDAQ:CPRT) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.50.

A number of equities research analysts have weighed in on the stock. HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Robert W. Baird dropped their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Saturday, September 27th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Stephens dropped their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th.

Copart Trading Up 1.2%

Copart stock opened at $45.11 on Wednesday. Copart has a 12-month low of $44.23 and a 12-month high of $64.38. The stock has a market cap of $43.65 billion, a P/E ratio of 28.19 and a beta of 1.03. The company has a 50-day moving average price of $46.97 and a 200 day moving average price of $51.64.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.33 earnings per share. Copart’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Copart will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Western Pacific Wealth Management LP raised its position in Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 173 shares during the last quarter. Blue Trust Inc. raised its position in Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 175 shares during the last quarter. Western Wealth Management LLC raised its position in Copart by 4.0% in the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 192 shares during the last quarter. Nixon Peabody Trust Co. raised its position in Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 195 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its position in Copart by 4.9% in the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

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.