Robert W. Baird Has Lowered Expectations for Copart (NASDAQ:CPRT) Stock Price

Copart (NASDAQ:CPRT - Get Free Report) had its price target lowered by stock analysts at Robert W. Baird from $64.00 to $55.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Robert W. Baird's price objective would suggest a potential upside of 19.62% from the company's previous close.

Several other research analysts have also recently commented on CPRT. JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company.

Copart Trading Up 0.2%

CPRT stock traded up $0.09 during midday trading on Thursday, hitting $45.98. The stock had a trading volume of 9,149,548 shares, compared to its average volume of 5,044,347. The firm has a market capitalization of $44.46 billion, a price-to-earnings ratio of 30.25 and a beta of 1.07. Copart has a 52 week low of $45.52 and a 52 week high of $64.38. The stock has a 50-day simple moving average of $51.83 and a 200 day simple moving average of $55.39.

Copart (NASDAQ:CPRT - Get Free Report) last issued 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. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. On average, equities analysts forecast that Copart will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at $26,000. Sandy Spring Bank increased its stake 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 buying an additional 176 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Copart in the fourth quarter valued at $31,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the second quarter valued at $31,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at $36,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Company Profile

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.