Copart, Inc. (NASDAQ:CPRT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Copart, Inc. (NASDAQ:CPRT) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $47.60.

CPRT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird dropped their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th.

Copart Price Performance

Shares of CPRT opened at $39.04 on Friday. The company has a market cap of $37.79 billion, a PE ratio of 23.81 and a beta of 1.10. The firm has a 50-day moving average of $39.74 and a 200-day moving average of $44.22. Copart has a one year low of $37.41 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $0.37 EPS. Copart’s revenue was up .7% on a year-over-year basis. Analysts expect that Copart will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of hedge funds and other institutional investors have recently modified their holdings of CPRT. Norges Bank acquired a new position in shares of Copart in the second quarter valued at about $549,448,000. AQR Capital Management LLC boosted its holdings in Copart by 298.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock valued at $217,243,000 after purchasing an additional 3,660,031 shares during the period. Van ECK Associates Corp grew its position in shares of Copart by 2,266.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock worth $165,895,000 after purchasing an additional 3,533,133 shares in the last quarter. Akre Capital Management LLC increased its holdings in shares of Copart by 253.1% during the third quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock worth $190,527,000 after purchasing an additional 3,036,760 shares during the period. Finally, Fiera Capital Corp increased its holdings in shares of Copart by 75.3% during the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock worth $343,511,000 after purchasing an additional 3,007,820 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.