Copart, Inc. (NASDAQ:CPRT) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Copart, with three sell, two hold, one buy and three strong-buy recommendations. The average 12-month price target is $41.67.
• Copart exceeded quarterly expectations, reporting $0.43 in EPS versus a $0.41 estimate and $1.24 billion in revenue versus $1.19 billion expected; revenue increased 2.1% year over year.
• Shares opened at $33.80, while CEO Jeffrey Liaw sold 27,745 shares worth about $846,000. Institutional investors own approximately 85.78% of the company.

Shares of Copart, Inc. (NASDAQ:CPRT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $41.6667.

Several brokerages have recently weighed in on CPRT. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Stephens reaffirmed an "equal weight" rating and set a $35.00 target price on shares of Copart in a research note on Thursday. Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd.

Copart Stock Performance

Shares of Copart stock opened at $33.80 on Friday. The business's 50 day moving average price is $29.49 and its 200 day moving average price is $32.71. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 20.99 and a beta of 1.01. Copart has a one year low of $26.81 and a one year high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) 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. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the business earned $0.42 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Copart will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company's stock.

Institutional Investors Weigh In On Copart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. Brighton Jones LLC lifted its position in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock valued at $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Copart during the second quarter valued at about $2,677,000. Sei Investments Co. raised its stake in shares of Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider's stock valued at $44,179,000 after acquiring an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider's stock valued at $20,270,000 after acquiring an additional 13,860 shares during the period. Hedge funds and other 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.

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