Copart, Inc. (NASDAQ:CPRT) Stock Has Consensus Price Target of $37.80

Key Points

• Analysts rate Copart “Moderate Buy,” with five buy, two strong-buy, three hold, and two sell ratings. The average 12-month price target is $37.80.
• CPRT opened at $27.32, below its 50-day and 200-day moving averages, and has traded between $26.39 and $45.89 over the past year.
• Copart’s latest quarterly revenue reached $1.15 billion, slightly above estimates, but EPS of $0.35 missed the $0.38 consensus. CEO Jeffrey Liaw sold 27,745 shares, while institutional investors own 85.78% of the stock.

Copart, Inc. (NASDAQ:CPRT - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $37.80.

CPRT has been the subject of several research analyst reports. Stephens reissued an "equal weight" rating and issued a $35.00 target price on shares of Copart in a research report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research note on Thursday, September 3rd. BNP Paribas Exane reissued an "outperform" rating and issued a $43.00 price objective (up from $40.00) on shares of Copart in a report on Monday, September 28th. JPMorgan Chase & Co. raised Copart from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Finally, Barclays set a $25.00 target price on Copart and gave the stock an "underweight" rating in a research report on Wednesday, August 26th.

Copart Trading Down 0.6%

CPRT stock opened at $27.32 on Friday. The firm has a 50 day simple moving average of $30.33 and a 200-day simple moving average of $31.03. The company has a market capitalization of $25.31 billion, a P/E ratio of 17.63, a PEG ratio of 1.34 and a beta of 1.06. Copart has a twelve month low of $26.39 and a twelve month high of $45.89.

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

Insider Transactions at Copart

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Copart in the second quarter worth about $1,908,980,000. Bank of New York Mellon Corp acquired a new position in Copart during the 2nd quarter valued at approximately $488,663,000. Deutsche Bank AG acquired a new position in Copart during the 2nd quarter valued at approximately $436,413,000. Bank of America Corp DE bought a new position in Copart during the 2nd quarter worth $191,347,000. Finally, Legal & General Group Plc acquired a new stake in Copart in the second quarter worth $167,000,000. 85.78% of the stock is owned by institutional investors and hedge funds.

About Copart

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company's facilities.

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