Stephens assumed coverage on shares of Copart (NASDAQ:CPRT - Free Report) in a report issued on Tuesday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $50.00 price target on the business services provider's stock.
Several other equities research analysts have also recently commented on the company. Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.
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Copart Stock Performance
Shares of CPRT stock traded down $0.32 on Tuesday, hitting $48.51. The company had a trading volume of 5,124,777 shares, compared to its average volume of 4,874,701. The stock's 50-day moving average is $54.06 and its two-hundred day moving average is $55.99. Copart has a twelve month low of $47.33 and a twelve month high of $64.38. The firm has a market cap of $46.91 billion, a P/E ratio of 31.91 and a beta of 1.07.
Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Copart will post 1.57 EPS for the current year.
Insider Transactions at Copart
In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.68% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new position in Copart in the first quarter worth approximately $26,000. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Copart in the fourth quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart in the first quarter valued at approximately $36,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 85.78% of the company's stock.
Copart Company Profile
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Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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