Shares of Copart, Inc. (NASDAQ:CPRT – Get Free Report) have received an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $43.50.
Several equities analysts have commented on the stock. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Barclays set a $26.00 price objective on Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th.
Check Out Our Latest Research Report on CPRT
Copart Stock Performance
Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm 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 for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Equities analysts predict that Copart will post 1.58 EPS for the current fiscal year.
Insider Activity at Copart
In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Copart in the 2nd quarter valued at $206,000. Tema ETFs LLC grew its stake in shares of Copart by 57.1% during the second quarter. Tema ETFs LLC now owns 19,692 shares of the business services provider’s stock worth $555,000 after purchasing an additional 7,154 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 34,855 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Copart in the second quarter valued at $224,000. Finally, Sunburst Financial Group LLC increased its holdings in Copart by 11.4% in the second quarter. Sunburst Financial Group LLC now owns 9,703 shares of the business services provider’s stock valued at $274,000 after buying an additional 993 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
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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