Copart (CPRT) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Copart (NASDAQ:CPRT) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other brokerages have also recently weighed in on CPRT. Gabelli reaffirmed a hold rating on shares of Copart in a research note on Friday, November 24th. Robert W. Baird reaffirmed a buy rating and set a $44.00 price target on shares of Copart in a research note on Friday, November 24th. J P Morgan Chase & Co raised their price target on shares of Copart from $35.00 to $41.00 and gave the stock a neutral rating in a research note on Friday, November 24th. Jefferies Group raised their price target on shares of Copart to $40.00 and gave the stock a hold rating in a research note on Thursday, November 23rd. Finally, Zacks Investment Research raised shares of Copart from a hold rating to a buy rating and set a $40.00 price target for the company in a research note on Tuesday, November 21st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Copart has an average rating of Hold and an average price target of $41.80.

Shares of Copart (NASDAQ:CPRT) traded down $0.06 during mid-day trading on Friday, reaching $43.35. 970,168 shares of the company’s stock traded hands, compared to its average volume of 1,391,086. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10,040.91, a P/E ratio of 33.87, a P/E/G ratio of 1.44 and a beta of 1.31. Copart has a 52-week low of $27.56 and a 52-week high of $44.76.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $419.17 million during the quarter, compared to analysts’ expectations of $377.37 million. Copart had a net margin of 20.01% and a return on equity of 29.96%. During the same period last year, the business earned $0.29 EPS. sell-side analysts forecast that Copart will post 1.5 earnings per share for the current year.

In other Copart news, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the sale, the director now owns 3,500 shares of the company’s stock, valued at approximately $120,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total value of $4,895,347.32. The disclosure for this sale can be found here. Insiders sold 476,667 shares of company stock valued at $17,252,147 over the last three months. 16.40% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in CPRT. Burgundy Asset Management Ltd. lifted its holdings in shares of Copart by 10.3% during the third quarter. Burgundy Asset Management Ltd. now owns 438,406 shares of the business services provider’s stock worth $15,068,000 after buying an additional 41,017 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Copart in the third quarter valued at about $816,000. Wolverine Trading LLC raised its stake in Copart by 44.9% in the third quarter. Wolverine Trading LLC now owns 11,595 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 3,595 shares in the last quarter. California Public Employees Retirement System raised its stake in Copart by 5.8% in the third quarter. California Public Employees Retirement System now owns 604,962 shares of the business services provider’s stock valued at $20,793,000 after purchasing an additional 33,262 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Copart in the third quarter valued at about $563,000. 78.38% of the stock is owned by institutional investors and hedge funds.

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Copart Company Profile

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.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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