Copart (NASDAQ:CPRT) Upgraded to Buy at BidaskClub

Copart (NASDAQ:CPRT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other research analysts have also commented on CPRT. SunTrust Banks boosted their price objective on shares of Copart from $92.00 to $100.00 and gave the stock an “average” rating in a research note on Friday, November 22nd. Guggenheim boosted their price objective on shares of Copart from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, ValuEngine lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Copart presently has an average rating of “Hold” and an average target price of $85.60.

Shares of NASDAQ CPRT traded down $0.10 during trading hours on Tuesday, hitting $96.57. 10,941 shares of the stock were exchanged, compared to its average volume of 1,668,556. The company has a quick ratio of 2.24, a current ratio of 2.30 and a debt-to-equity ratio of 0.27. The company has a market cap of $22.39 billion, a PE ratio of 42.97 and a beta of 0.80. The firm has a fifty day moving average price of $90.90 and a 200-day moving average price of $82.46. Copart has a 12 month low of $48.88 and a 12 month high of $97.16.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, November 20th. The business services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The firm had revenue of $554.40 million during the quarter, compared to analyst estimates of $544.46 million. Copart had a net margin of 32.59% and a return on equity of 34.06%. Copart’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, equities analysts anticipate that Copart will post 2.77 earnings per share for the current fiscal year.

In other Copart news, Director Steven D. Cohan sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $92.14, for a total transaction of $7,371,200.00. Following the sale, the director now owns 80,000 shares of the company’s stock, valued at approximately $7,371,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO A Jayson Adair sold 327,318 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $90.49, for a total transaction of $29,619,005.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 538,785 shares of company stock valued at $49,564,503. 14.34% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CPRT. Venturi Wealth Management LLC purchased a new stake in Copart during the 3rd quarter worth approximately $25,000. Prime Capital Investment Advisors LLC purchased a new stake in Copart during the 3rd quarter worth approximately $26,000. Financial Advantage Inc. purchased a new stake in Copart during the 3rd quarter worth approximately $28,000. Griffin Asset Management Inc. purchased a new stake in Copart during the 2nd quarter worth approximately $34,000. Finally, Commonwealth Bank of Australia grew its position in Copart by 132.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock worth $37,000 after purchasing an additional 295 shares during the last quarter. 78.73% of the stock is currently owned by institutional investors.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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