Copart, Inc. (CPRT) Now Covered by Wolfe Research

Research analysts at Wolfe Research initiated coverage on shares of Copart, Inc. (NASDAQ:CPRT) in a note issued to investors on Tuesday, November 7th, The Fly reports. The firm set a “market perform” rating on the business services provider’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Robert W. Baird raised their price objective on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Finally, CJS Securities restated an “outperform” rating and issued a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Copart presently has a consensus rating of “Hold” and a consensus price target of $41.40.

Shares of Copart (NASDAQ CPRT) opened at $42.46 on Tuesday. The company has a market cap of $9,810.00, a P/E ratio of 31.69, a PEG ratio of 1.58 and a beta of 1.24. Copart has a one year low of $26.96 and a one year high of $42.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.26.

Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The firm had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. During the same quarter last year, the firm posted $0.29 EPS. research analysts forecast that Copart will post 1.41 earnings per share for the current fiscal year.

In other Copart news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $120,155. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPRT. Winslow Evans & Crocker Inc. purchased a new position in shares of Copart in the 2nd quarter valued at about $100,000. Salem Investment Counselors Inc. boosted its stake in shares of Copart by 100.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after buying an additional 2,047 shares during the period. Parallel Advisors LLC boosted its stake in shares of Copart by 2.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after buying an additional 111 shares during the period. Smithfield Trust Co. boosted its stake in shares of Copart by 104.8% in the 2nd quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock valued at $171,000 after buying an additional 2,749 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Copart by 136.5% in the 2nd quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,249 shares during the period. 81.03% of the stock is owned by institutional investors.

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About Copart

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

The Fly

Analyst Recommendations for Copart (NASDAQ:CPRT)

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