Copart (CPRT) Downgraded by BidaskClub

BidaskClub downgraded shares of Copart (NASDAQ:CPRT) from a strong-buy rating to a buy rating in a research note published on Wednesday.

CPRT has been the topic of several other research reports. Barrington Research reaffirmed a hold rating on shares of Copart in a research report on Tuesday, February 27th. Consumer Edge raised Copart from a neutral rating to an outperform rating in a research report on Tuesday, February 27th. Stephens raised Copart from an equal weight rating to an overweight rating and set a $50.00 target price on the stock in a research report on Monday, February 12th. Zacks Investment Research cut Copart from a buy rating to a hold rating in a research report on Tuesday, January 30th. Finally, ValuEngine raised Copart from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $49.13.

Shares of Copart opened at $54.25 on Wednesday, MarketBeat.com reports. Copart has a 52-week low of $30.30 and a 52-week high of $56.78. The company has a market capitalization of $12.23 billion, a P/E ratio of 42.05, a PEG ratio of 1.68 and a beta of 0.96. The company has a current ratio of 1.78, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. Copart had a return on equity of 32.86% and a net margin of 21.81%. The company had revenue of $478.20 million for the quarter, compared to analysts’ expectations of $434.74 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. equities research analysts predict that Copart will post 1.74 earnings per share for the current fiscal year.

In other Copart news, Director Matt Blunt sold 13,333 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $50.74, for a total transaction of $676,516.42. Following the sale, the director now owns 3,333 shares of the company’s stock, valued at approximately $169,116.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.40% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Copart by 4.7% in the 1st quarter. BlackRock Inc. now owns 17,080,908 shares of the business services provider’s stock worth $869,932,000 after purchasing an additional 760,714 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Copart by 8.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,778,042 shares of the business services provider’s stock worth $447,066,000 after purchasing an additional 689,731 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Copart by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 6,985,582 shares of the business services provider’s stock worth $301,707,000 after purchasing an additional 142,202 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Copart by 0.5% in the 1st quarter. Wells Fargo & Company MN now owns 2,800,432 shares of the business services provider’s stock worth $142,625,000 after purchasing an additional 13,378 shares in the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in shares of Copart in the 4th quarter worth $78,758,000. 80.90% of the stock is owned by hedge funds and other institutional investors.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Analyst Recommendations for Copart (NASDAQ:CPRT)

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