Copart’s (CPRT) “Equal Weight” Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of Copart (NASDAQ:CPRT) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $35.00 price target on the business services provider’s stock.

Several other analysts have also recently commented on the stock. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.67.

Copart Stock Performance

Copart stock opened at $33.80 on Thursday. The company has a market cap of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01. Copart has a one year low of $26.81 and a one year high of $50.11. The business has a fifty day moving average of $29.49 and a two-hundred day moving average of $32.71.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Sell-side analysts predict that Copart will post 1.58 EPS for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Copart

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its holdings in shares of Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after acquiring an additional 41,060 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock valued at $16,307,000 after acquiring an additional 34,855 shares during the last quarter. Mill Capital Management LLC acquired a new stake in shares of Copart during the second quarter valued at $12,711,000. Focus Partners Advisor Solutions LLC purchased a new stake in Copart during the 2nd quarter worth about $1,298,000. Finally, ABN Amro Investment Solutions increased its position in Copart by 82.5% during the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock worth $7,822,000 after purchasing an additional 90,339 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

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.