Copart (NASDAQ:CPRT) Lifted to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Copart (NASDAQ:CPRT) from a buy rating to a strong-buy rating in a report released on Thursday, June 21st.

A number of other analysts also recently weighed in on the stock. Stephens downgraded shares of Copart from an overweight rating to an equal weight rating in a research report on Friday, May 18th. Zacks Investment Research cut shares of Copart from a buy rating to a hold rating in a research note on Wednesday, May 30th. Gabelli reissued a hold rating on shares of Copart in a research note on Friday, May 25th. ValuEngine raised shares of Copart from a hold rating to a buy rating in a research note on Saturday, May 12th. Finally, Barrington Research reissued a hold rating on shares of Copart in a report on Monday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $50.63.

Copart traded up $0.55, reaching $56.56, on Thursday, according to MarketBeat.com. 53,422,201 shares of the company traded hands, compared to its average volume of 2,121,272. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.27 and a current ratio of 2.33. The company has a market capitalization of $13.01 billion, a PE ratio of 43.84, a PEG ratio of 1.36 and a beta of 0.99. Copart has a 52-week low of $30.30 and a 52-week high of $60.43.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $478.20 million during the quarter, compared to analysts’ expectations of $434.74 million. Copart had a net margin of 21.81% and a return on equity of 31.21%. During the same period in the previous year, the company earned $0.38 earnings per share. equities analysts forecast that Copart will post 1.79 earnings per share for the current fiscal year.

In related news, CEO A Jayson Adair sold 200,000 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $57.47, for a total transaction of $11,494,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 140,000 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $57.51, for a total value of $8,051,400.00. The disclosure for this sale can be found here. Insiders have sold 550,000 shares of company stock worth $31,686,500 over the last ninety days. 16.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CPRT. Barings LLC purchased a new position in shares of Copart during the 4th quarter valued at $665,000. Keybank National Association OH lifted its holdings in Copart by 136.8% during the 4th quarter. Keybank National Association OH now owns 16,204 shares of the business services provider’s stock worth $700,000 after purchasing an additional 9,361 shares in the last quarter. First Trust Advisors LP lifted its holdings in Copart by 87.1% during the 4th quarter. First Trust Advisors LP now owns 385,690 shares of the business services provider’s stock worth $16,658,000 after purchasing an additional 179,519 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Copart by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 436,520 shares of the business services provider’s stock worth $18,853,000 after purchasing an additional 44,878 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Copart by 11,503.3% during the 4th quarter. Advisory Services Network LLC now owns 10,443 shares of the business services provider’s stock worth $451,000 after purchasing an additional 10,353 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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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