Copart, Inc. (NASDAQ:CPRT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Copart, Inc. (NASDAQ:CPRT) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $43.50.

Several research firms recently weighed in on CPRT. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Barclays set a $26.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd.

Hedge Funds Weigh In On Copart

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after purchasing an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions grew its holdings in shares of Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after buying an additional 90,339 shares in the last quarter. Davidson Kahn Capital Management LLC grew its holdings in shares of Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after buying an additional 36,091 shares in the last quarter. Assetmark Inc. raised its position in Copart by 7.3% during the fourth quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock valued at $19,859,000 after buying an additional 34,410 shares during the period. Finally, Inlet Private Wealth LLC acquired a new position in Copart during the fourth quarter valued at $2,637,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 6.6%

NASDAQ:CPRT opened at $29.79 on Tuesday. The business’s 50-day simple moving average is $30.10 and its two-hundred day simple moving average is $33.98. The stock has a market cap of $27.58 billion, a PE ratio of 18.50 and a beta of 1.02. Copart has a 52 week low of $26.81 and a 52 week high of $50.11.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Sell-side analysts anticipate that Copart will post 1.58 earnings per share for the current fiscal year.

Copart Company Profile

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.