Copart (CPRT) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Copart (NASDAQ:CPRT) from a hold rating to a buy rating in a report published on Thursday. They currently have $47.00 price objective on the business services provider’s stock.

According to Zacks, “Copart has been expanding its presence through aggressive acquisitions of other businesses to boost its top-line performance and strengthen its footprint. Further,it is widening its existing networks to manage inflating volumes and access new markets. Its top line received a boost and has started improving after witnessing temporal weakness due to lower revenues from vehicle sales. Also, in the last six months, shares of the company have outperformed the industry it belongs to.”

A number of other equities analysts have also commented on the company. Gabelli reissued a hold rating on shares of Copart in a research note on Friday, November 24th. Wolfe Research initiated coverage on Copart in a research note on Tuesday, November 7th. They issued a market perform rating on the stock. BidaskClub raised Copart from a hold rating to a buy rating in a research note on Thursday, December 7th. Stephens set a $49.00 price objective on Copart and gave the stock a hold rating in a research note on Wednesday, January 17th. Finally, Robert W. Baird reissued a buy rating and issued a $44.00 price objective on shares of Copart in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $44.17.

Copart (CPRT) traded down $0.34 during trading on Thursday, reaching $40.41. The company’s stock had a trading volume of 661,953 shares, compared to its average volume of 979,739. The company has a current ratio of 2.26, a quick ratio of 2.23 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9,654.63, a price-to-earnings ratio of 31.63, a P/E/G ratio of 1.36 and a beta of 1.12. Copart has a one year low of $28.44 and a one year high of $46.09.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. Copart had a return on equity of 29.96% and a net margin of 20.01%. During the same quarter in the previous year, the firm earned $0.29 earnings per share. equities analysts forecast that Copart will post 1.52 EPS for the current year.

In other news, Director Daniel J. Englander sold 68,004 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total transaction of $2,950,013.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matt Blunt sold 116,667 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was 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 own 16.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nadler Financial Group Inc. bought a new stake in Copart in the fourth quarter valued at about $216,000. IFP Advisors Inc grew its stake in Copart by 216.3% in the third quarter. IFP Advisors Inc now owns 5,491 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 3,755 shares during the period. Private Advisor Group LLC acquired a new position in shares of Copart during the third quarter worth about $200,000. Crow Point Partners LLC acquired a new position in shares of Copart during the third quarter worth about $198,000. Finally, Sapphire Star Partners LP acquired a new position in shares of Copart during the third quarter worth about $205,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

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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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