Copart (NASDAQ:CPRT) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Copart from “strong sell” to “hold,” while analysts remain divided; the stock carries a “Moderate Buy” consensus rating and an average price target of $38.83.
• Copart shares fell 3.3% and opened at $32.60, below the consensus target, with the stock trading between a 12-month range of $26.81 and $49.11.
• CEO Jeffrey Liaw sold 27,745 shares worth approximately $846,000, while institutional investors and hedge funds own 85.78% of Copart’s outstanding shares.

Copart (NASDAQ:CPRT - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities research analysts have also recently issued reports on CPRT. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a report on Thursday, August 20th. JPMorgan Chase & Co. raised Copart from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $32.00 to $40.00 in a research report on Thursday, September 3rd. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Finally, Barclays set a $25.00 price objective on shares of Copart and gave the stock an "underweight" rating in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

Copart Trading Down 3.3%

NASDAQ:CPRT opened at $32.60 on Monday. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. Copart has a twelve month low of $26.81 and a twelve month high of $49.11. The stock has a fifty day simple moving average of $30.27 and a 200-day simple moving average of $32.16.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Reflection Asset Management acquired a new stake in shares of Copart during the fourth quarter worth about $34,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Copart in the second quarter worth $25,000. Cache Advisors LLC purchased a new position in shares of Copart during the 1st quarter valued at about $31,000. Versant Capital Management Inc increased its holdings in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Triumph Capital Management raised its position in shares of Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock worth $40,000 after acquiring an additional 823 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

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.

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