Copart, Inc. (NASDAQ:CPRT – Get Free Report) Director Diane Morefield sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Copart Stock Performance
Shares of CPRT stock traded down $0.36 on Monday, reaching $27.51. 15,039,325 shares of the company’s stock traded hands, compared to its average volume of 10,283,243. Copart, Inc. has a 12-month low of $25.72 and a 12-month high of $45.89. The company has a market capitalization of $25.48 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. The business’s 50 day moving average price is $30.09 and its two-hundred day moving average price is $30.80.
Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Research analysts predict that Copart, Inc. will post 1.63 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Barclays set a $25.00 target price on Copart and gave the company an “underweight” rating in a report on Wednesday, August 26th. Barrington Research upgraded shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Friday, September 11th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Freedom Broker lowered their price objective on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.
Check Out Our Latest Stock Analysis on Copart
Hedge Funds Weigh In On Copart
Hedge funds have recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in Copart in the fourth quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart during the 2nd quarter worth $25,000. Byrne Asset Management LLC acquired a new position in shares of Copart during the 3rd quarter worth $25,000. Cache Advisors LLC acquired a new position in shares of Copart during the 1st quarter worth $31,000. Finally, Versant Capital Management Inc increased its stake in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Copart Company Profile
Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.
Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.
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