Copart, Inc. (NASDAQ:CPRT) Stock Has Average Target Price of $37.90 According to Analysts

by · The Markets Daily

Shares of Copart, Inc. (NASDAQ:CPRT – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $37.90.

Several research firms recently issued reports on CPRT. Freedom Broker decreased their target price on Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. HSBC lowered shares of Copart from a “buy” rating to a “hold” rating and cut their price target for the stock from $46.00 to $36.00 in a research note on Wednesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday, September 3rd.

Get Our Latest Research Report on CPRT

Copart Stock Down 1.6%

NASDAQ:CPRT opened at $31.95 on Thursday. The stock’s fifty day moving average is $29.45 and its two-hundred day moving average is $32.22. Copart has a 52 week low of $25.72 and a 52 week high of $42.05. The stock has a market capitalization of $29.60 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Copart (NASDAQ:CPRT – Get Free Report) last released its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Copart will post 1.63 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director Diane Morefield sold 20,000 shares of Copart stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Hedge funds have recently added to or reduced their stakes in the business. Ibex Investors LLC boosted its position in Copart by 225.0% in the 3rd quarter. Ibex Investors LLC now owns 65,000 shares of the business services provider’s stock valued at $1,773,000 after buying an additional 45,000 shares during the period. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Copart by 37.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 341,208 shares of the business services provider’s stock worth $9,308,000 after acquiring an additional 92,098 shares in the last quarter. Allworth Financial LP grew its stake in shares of Copart by 2.4% in the third quarter. Allworth Financial LP now owns 26,182 shares of the business services provider’s stock worth $738,000 after acquiring an additional 604 shares in the last quarter. Van Strum & Towne Inc. purchased a new stake in shares of Copart during the third quarter worth $1,979,000. Finally, Maryland State Retirement & Pension System increased its position in shares of Copart by 12.6% during the third quarter. Maryland State Retirement & Pension System now owns 51,641 shares of the business services provider’s stock worth $1,409,000 after acquiring an additional 5,760 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

About Copart

(Get Free Report)

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.

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