Traders Buy High Volume of Call Options on Copart (CPRT)

Copart, Inc. (NASDAQ:CPRT) was the recipient of unusually large options trading on Friday. Stock investors bought 1,697 call options on the company. This is an increase of 2,511% compared to the typical volume of 65 call options.

Several equities analysts have recently issued reports on CPRT shares. Robert W. Baird upped their target price on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, November 21st. Wolfe Research started coverage on Copart in a report on Tuesday, November 7th. They issued a “market perform” rating for the company. Jefferies Group upped their target price on Copart to $40.00 and gave the company a “hold” rating in a report on Thursday, November 23rd. Finally, CJS Securities reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Copart in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.80.

In other Copart news, Director Matt Blunt sold 116,667 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total transaction of $4,895,347.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Englander sold 68,004 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Copart during the second quarter valued at $485,000. Swiss National Bank grew its holdings in Copart by 0.8% during the third quarter. Swiss National Bank now owns 346,700 shares of the business services provider’s stock valued at $11,916,000 after purchasing an additional 2,900 shares during the period. Laurion Capital Management LP bought a new position in Copart during the second quarter valued at $4,121,000. Teachers Retirement System of The State of Kentucky grew its holdings in Copart by 85.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 42,200 shares of the business services provider’s stock valued at $1,342,000 after purchasing an additional 19,500 shares during the period. Finally, Norris Perne & French LLP MI bought a new position in Copart during the third quarter valued at $553,000. 78.60% of the stock is owned by institutional investors.

Copart (CPRT) opened at $44.85 on Monday. The stock has a market capitalization of $10,370.00, a P/E ratio of 35.04, a PEG ratio of 1.46 and a beta of 1.30. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Copart has a twelve month low of $27.74 and a twelve month high of $44.87.

Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $419.17 million during the quarter, compared to analyst estimates of $377.37 million. Copart had a return on equity of 27.20% and a net margin of 18.50%. During the same period in the prior year, the company posted $0.29 earnings per share. analysts anticipate that Copart will post 1.52 EPS for the current year.

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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.

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