Copart (NASDAQ:CPRT – Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Thursday, Briefing.com reports. The firm presently has a $40.00 price objective on the business services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 24.38% from the stock’s previous close.
Several other equities research analysts also recently issued reports on CPRT. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday. Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.
Read Our Latest Stock Report on Copart
Copart Stock Performance
Insider Activity
In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.
Hedge Funds Weigh In On Copart
Large investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. acquired a new stake in shares of Copart during the 2nd quarter worth approximately $25,000. Versant Capital Management Inc boosted its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Cache Advisors LLC bought a new position in Copart during the 1st quarter worth $31,000. Compass Financial Management LLC bought a new position in Copart during the 2nd quarter worth $33,000. Finally, Reflection Asset Management acquired a new stake in Copart in the fourth quarter worth $34,000. 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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