Copart (NASDAQ: CPRT) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.
The analysts wrote, “The stock has hit our price target of the mid-$20 range and is fairly valued in our opinion. CPRT’s solid long term fundamental outlook remains intact. We would not commit new money to the shares at these price levels and are moving to a MARKET PERFORM rating on the shares.”
Shares of Copart traded down 1.42% during mid-day trading on Tuesday, hitting $24.95. Copart has a 52 week low of $17.875 and a 52 week high of $27.88. The company has a market cap of $3.165 billion and a P/E ratio of 18.93.
Copart last issued its quarterly earnings data on Tuesday, May 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts predict that Copart will post $0.35 earnings per share next quarter.
Copart, Inc. (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada and the United Kingdom.
