Copart (NASDAQ:CPRT) PT Lowered to $75.00

Copart (NASDAQ:CPRTGet Rating) had its target price trimmed by Guggenheim to $75.00 in a report issued on Monday morning, Stock Target Advisor reports.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Copart from a buy rating to a hold rating in a research note on Saturday, November 12th. Robert W. Baird lifted their price target on shares of Copart from $68.00 to $74.00 in a research report on Friday, November 18th. Finally, Stephens lifted their price objective on shares of Copart to $72.00 and gave the company an overweight rating in a report on Thursday, November 17th.

Copart Stock Up 1.7 %

NASDAQ:CPRT opened at $65.87 on Monday. Copart has a 52 week low of $51.10 and a 52 week high of $76.29. The stock has a market capitalization of $31.36 billion, a price-to-earnings ratio of 29.47 and a beta of 1.16. The firm has a 50 day moving average of $57.26 and a 200 day moving average of $57.93.

Copart (NASDAQ:CPRTGet Rating) last released its quarterly earnings data on Wednesday, September 7th. The business services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $883.39 million for the quarter, compared to analyst estimates of $874.14 million. Copart had a net margin of 30.01% and a return on equity of 23.75%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, analysts expect that Copart will post 2.28 EPS for the current year.

Hedge Funds Weigh In On Copart

Several institutional investors have recently bought and sold shares of CPRT. MV Capital Management Inc. grew its stake in Copart by 159.6% in the 2nd quarter. MV Capital Management Inc. now owns 231 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 142 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Copart during the second quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV lifted its stake in Copart by 177.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 294 shares of the business services provider’s stock worth $31,000 after purchasing an additional 188 shares during the last quarter. CI Investments Inc. lifted its stake in Copart by 1,003.8% during the third quarter. CI Investments Inc. now owns 287 shares of the business services provider’s stock worth $31,000 after purchasing an additional 261 shares during the last quarter. Finally, Glassman Wealth Services lifted its stake in Copart by 163.3% in the second quarter. Glassman Wealth Services now owns 337 shares of the business services provider’s stock valued at $37,000 after buying an additional 209 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

About Copart

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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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