Copart, Inc. (NASDAQ:CPRT) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Copart, Inc. (NASDAQ:CPRT) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $37.80.

Several research firms have recently commented on CPRT. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. BNP Paribas Exane restated an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Finally, Barclays set a $25.00 price objective on shares of Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Copart

A number of hedge funds have recently bought and sold shares of CPRT. Western Pacific Wealth Management LP increased its holdings in Copart by 13.8% in the first quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock valued at $88,000 after buying an additional 320 shares during the last quarter. Alpha Family Trust lifted its holdings in Copart by 3.4% during the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock worth $366,000 after buying an additional 360 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Copart by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock worth $805,000 after buying an additional 369 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after buying an additional 498 shares during the last quarter. Finally, Studio Investment Management LLC grew its position in shares of Copart by 5.5% in the 2nd quarter. Studio Investment Management LLC now owns 10,728 shares of the business services provider’s stock worth $302,000 after acquiring an additional 556 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT opened at $27.87 on Friday. The company has a market capitalization of $25.82 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.36 and a beta of 1.06. Copart has a one year low of $25.72 and a one year high of $45.89. The stock has a 50-day moving average price of $30.09 and a 200 day moving average price of $30.82.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.41 EPS. Copart’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Copart will post 1.63 earnings per share for the current fiscal year.

About Copart

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.