Copart (NASDAQ:CPRT) PT Raised to $100.00

Copart (NASDAQ:CPRT) had its price objective hoisted by equities research analysts at Robert W. Baird from $96.00 to $100.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 2.77% from the stock’s previous close.

A number of other brokerages have also recently commented on CPRT. Guggenheim lifted their price target on Copart from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $100.00 price target on shares of Copart in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $88.60.

NASDAQ:CPRT opened at $97.30 on Friday. The business has a 50 day moving average of $99.19 and a 200 day moving average of $86.82. The company has a market capitalization of $24.29 billion, a price-to-earnings ratio of 31.69 and a beta of 0.79. Copart has a 1-year low of $53.75 and a 1-year high of $104.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.30 and a quick ratio of 2.24.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $0.65 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.65. The business had revenue of $575.10 million for the quarter, compared to analysts’ expectations of $576.09 million. Copart had a return on equity of 34.16% and a net margin of 32.95%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Copart will post 2.77 EPS for the current year.

In other news, Director Thomas N. Tryforos sold 81,467 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $95.84, for a total transaction of $7,807,797.28. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $90.49, for a total value of $29,619,005.82. The disclosure for this sale can be found here. Insiders sold a total of 538,785 shares of company stock worth $49,564,503 over the last ninety days. Insiders own 14.34% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Copart by 7.6% during the second quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock valued at $1,184,771,000 after buying an additional 1,114,752 shares during the period. State Street Corp increased its stake in shares of Copart by 3.7% during the fourth quarter. State Street Corp now owns 8,613,997 shares of the business services provider’s stock valued at $783,357,000 after buying an additional 303,938 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Copart by 46.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,524,694 shares of the business services provider’s stock valued at $320,535,000 after buying an additional 1,113,023 shares during the period. Geode Capital Management LLC increased its stake in shares of Copart by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,391,559 shares of the business services provider’s stock valued at $307,836,000 after buying an additional 220,919 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Copart by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,951,728 shares of the business services provider’s stock valued at $177,490,000 after buying an additional 20,002 shares during the period. 79.47% of the stock is currently owned by hedge funds and other institutional investors.

Copart Company Profile

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.

Further Reading: Cash Flow

Analyst Recommendations for Copart (NASDAQ:CPRT)

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