Copart, Inc. (NASDAQ:CPRT – Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $29.74 and last traded at $29.9540, with a volume of 4751713 shares changing hands. The stock had previously closed at $30.74.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on CPRT shares. Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.50.
Check Out Our Latest Report on CPRT
Copart Stock Performance
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. As a group, equities analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.
Insider Buying and Selling at Copart
In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company’s stock.
Institutional Trading of Copart
A number of institutional investors have recently made changes to their positions in CPRT. Quadrant Capital Group LLC grew its position in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the last quarter. Sierra Legacy Group increased its holdings in Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock worth $543,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. increased its holdings in Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after buying an additional 266 shares during the period. Brown Miller Wealth Management LLC raised its position in Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after buying an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its position in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Copart Company Profile
Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.
Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.
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