Copart, Inc. (NASDAQ:CPRT – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 15,130,000 shares, a growth of 10.0% from the June 15th total of 13,760,000 shares. Based on an average trading volume of 4,190,000 shares, the days-to-cover ratio is presently 3.6 days.
Copart Price Performance
Shares of Copart stock traded down $1.01 during midday trading on Wednesday, reaching $52.99. The company had a trading volume of 6,819,914 shares, compared to its average volume of 4,480,832. The stock has a fifty day moving average price of $54.09 and a 200 day moving average price of $53.10. Copart has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The firm has a market cap of $50.99 billion, a PE ratio of 37.32 and a beta of 1.27.
Copart (NASDAQ:CPRT – Get Free Report) last issued its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, sell-side analysts forecast that Copart will post 1.43 EPS for the current year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. raised their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.
Check Out Our Latest Research Report on CPRT
About Copart
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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