Analysts Set Copart, Inc. (NASDAQ:CPRT) Price Target at $44.40

Shares of Copart, Inc. (NASDAQ:CPRT) have been given an average rating of “Hold” by the eight research firms that are 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 issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $44.40.

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a report on Monday. Finally, Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th.

Copart Stock Performance

NASDAQ CPRT opened at $32.43 on Wednesday. The firm has a 50-day simple moving average of $37.40 and a 200 day simple moving average of $40.39. Copart has a twelve month low of $32.20 and a twelve month high of $63.85. The stock has a market cap of $31.24 billion, a PE ratio of 20.27 and a beta of 1.09.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts forecast that Copart will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart in the 3rd quarter valued at approximately $25,000. Lodestone Wealth Management LLC acquired a new stake in Copart in the 4th quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart in the 3rd quarter valued at $27,000. LRI Investments LLC grew its position in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 256 shares during the period. Institutional investors own 85.78% of the company’s stock.

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.