Shares of Copart, Inc. (NASDAQ:CPRT – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $29.41 and last traded at $29.48, with a volume of 12409585 shares. The stock had previously closed at $30.23.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Copart has an average rating of “Hold” and a consensus price target of $44.50.
Read Our Latest Analysis on Copart
Copart Stock Performance
Copart (NASDAQ:CPRT – Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Copart, Inc. will post 1.58 EPS for the current year.
Insider Activity at Copart
In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, 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 can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.
Institutional Trading of Copart
Several large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in shares of 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 acquiring an additional 264 shares during the period. Sierra Legacy Group grew its holdings in shares of Copart by 1.9% in the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 265 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 266 shares during the period. Brown Miller Wealth Management LLC increased its position in Copart by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after purchasing an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its position in Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after purchasing an additional 282 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.
About Copart
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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