Copart (NASDAQ:CPRT) Receives Equal Weight Rating from Stephens

Key Points

• Stephens reaffirmed its “equal weight” rating on Copart, with a $35 price target implying approximately 3.4% upside from the prior close.
• Analyst sentiment remains mixed, with Copart carrying a consensus “Hold” rating and an average price target of $41.67; ratings range from strong buy to strong sell.
• Copart’s latest quarterly results exceeded expectations, with EPS of $0.43 versus $0.41 expected and revenue of $1.24 billion, up 2.1% year over year.

Copart (NASDAQ:CPRT - Get Free Report)'s stock had its "equal weight" rating restated by analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $35.00 price target on the business services provider's stock. Stephens' price objective would suggest a potential upside of 3.40% from the company's previous close.

Several other research analysts have also issued reports on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Barclays set a $26.00 price target on Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Freedom Capital raised Copart to a "strong-buy" rating in a report on Friday, June 26th. Finally, Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $41.67.

Copart Price Performance

Shares of Copart stock opened at $33.85 on Thursday. The stock has a market capitalization of $31.34 billion, a P/E ratio of 21.02 and a beta of 1.01. The business's 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $32.74. Copart has a one year low of $26.81 and a one year high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $0.42 EPS. Copart's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Copart will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, 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 legal filing with the SEC, which is available at this link. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Copart

Large investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. purchased a new position in Copart in the 2nd quarter worth about $25,000. Versant Capital Management Inc increased its position in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC purchased a new stake in shares of Copart in the 1st quarter worth $31,000. Compass Financial Management LLC bought a new stake in shares of Copart in the second quarter valued at about $33,000. Finally, Reflection Asset Management purchased a new stake in Copart in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

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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