Copart (NASDAQ:CPRT) Reaches New 12-Month Low After Analyst Downgrade

Shares of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week low during mid-day trading on Friday after Robert W. Baird lowered their price target on the stock from $55.00 to $52.00. Robert W. Baird currently has an outperform rating on the stock. Copart traded as low as $39.38 and last traded at $39.8070, with a volume of 5673651 shares. The stock had previously closed at $41.02.

Other analysts also recently issued research reports about the stock. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Barclays reissued an “underweight” rating and issued a $33.00 price target on shares of Copart in a report on Friday. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens decreased their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.60.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CPRT. Stephens Inc. AR grew its holdings in Copart by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after buying an additional 218 shares during the period. Gamco Investors INC. ET AL raised its stake in Copart by 1.8% during the first quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock worth $712,000 after purchasing an additional 220 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Copart by 4.0% in the 1st quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 223 shares during the last quarter. Allworth Financial LP grew its stake in shares of Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after buying an additional 228 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Copart by 15.4% during the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after buying an additional 232 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Down 2.8%

The firm has a market capitalization of $38.58 billion, a PE ratio of 25.01 and a beta of 1.06. The firm has a 50-day moving average of $43.90 and a two-hundred day moving average of $48.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.