Copart’s (CPRT) Outperform Rating Reiterated at CJS Securities

Copart, Inc. (NASDAQ:CPRT)‘s stock had its “outperform” rating reiterated by CJS Securities in a research note issued to investors on Thursday, October 5th. They currently have a $42.00 price objective on the business services provider’s stock. CJS Securities’ price objective points to a potential upside of 15.83% from the stock’s current price.

A number of other brokerages have also recently commented on CPRT. Robert W. Baird upped their price target on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research cut shares of Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $33.00 price objective on shares of Copart in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $37.33.

Shares of Copart (NASDAQ CPRT) traded up 0.39% during midday trading on Thursday, hitting $36.41. The stock had a trading volume of 230,987 shares. The firm has a 50-day moving average of $33.65 and a 200 day moving average of $31.63. The firm has a market cap of $8.40 billion, a PE ratio of 21.93 and a beta of 1.19. Copart has a 12-month low of $25.37 and a 12-month high of $36.43.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, analysts expect that Copart will post $1.43 earnings per share for the current year.

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In related news, President Vincent W. Mitz sold 200,000 shares of the firm’s 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 transaction, the president now owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $120,155. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRT. Winslow Evans & Crocker Inc. bought a new position in Copart in the 2nd quarter valued at about $100,000. Salem Investment Counselors Inc. lifted its position in 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 acquiring an additional 2,047 shares in the last quarter. Parallel Advisors LLC lifted its position in Copart by 115.6% in the 1st quarter. Parallel Advisors LLC now owns 4,340 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 2,327 shares in the last quarter. Smithfield Trust Co. lifted its position in 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 acquiring an additional 2,749 shares in the last quarter. Finally, Huntington National Bank lifted its position in 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 acquiring an additional 3,249 shares in the last quarter. 79.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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