Brokerages Set Copart, Inc. (NASDAQ:CPRT) Price Target at $51.00

Shares of Copart, Inc. (NASDAQ:CPRT) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $51.00.

A number of equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock worth $55,519,950 in the last ninety days. Insiders own 10.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. grew its stake in shares of Copart by 103.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 69,396 shares of the business services provider’s stock valued at $2,990,000 after buying an additional 35,322 shares during the period. CWM LLC boosted its position in Copart by 108.1% during the 3rd quarter. CWM LLC now owns 24,693 shares of the business services provider’s stock worth $1,064,000 after purchasing an additional 12,826 shares during the period. AE Wealth Management LLC boosted its position in Copart by 90.9% during the 3rd quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock worth $840,000 after purchasing an additional 9,287 shares during the period. Moody National Bank Trust Division boosted its position in Copart by 105.8% during the 3rd quarter. Moody National Bank Trust Division now owns 9,881 shares of the business services provider’s stock worth $426,000 after purchasing an additional 5,079 shares during the period. Finally, DnB Asset Management AS boosted its position in Copart by 101.3% during the 3rd quarter. DnB Asset Management AS now owns 181,858 shares of the business services provider’s stock worth $7,836,000 after purchasing an additional 91,496 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

CPRT opened at $55.73 on Friday. The business’s 50-day simple moving average is $54.86 and its 200-day simple moving average is $50.41. Copart has a one year low of $38.53 and a one year high of $58.58. The stock has a market capitalization of $53.58 billion, a P/E ratio of 40.09 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that Copart will post 1.42 EPS for the current fiscal year.

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.