Copart, Inc. (NASDAQ:CPRT) Receives Average Rating of “Hold” from Analysts

Copart, Inc. (NASDAQ:CPRT) has earned a consensus rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $41.50.

Several equities research analysts have recently weighed in on the stock. Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Stephens restated an “equal weight” rating and issued a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Finally, Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Copart

Several institutional investors have recently bought and sold shares of CPRT. BlackRock Inc. acquired a new stake in shares of Copart in the second quarter valued at $1,908,980,000. California State Teachers Retirement System lifted its position in Copart by 2,995.5% during the 2nd quarter. California State Teachers Retirement System now owns 40,541,392 shares of the business services provider’s stock worth $1,142,862,000 after buying an additional 39,231,718 shares in the last quarter. State Street Corp lifted its position in Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares in the last quarter. Capital World Investors grew its holdings in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after acquiring an additional 131,703 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $32.67 on Friday. The firm has a market capitalization of $30.25 billion, a P/E ratio of 20.29 and a beta of 1.01. The stock has a fifty day moving average price of $29.67 and a two-hundred day moving average price of $32.52. Copart has a 52-week low of $26.81 and a 52-week high of $50.11.

Copart Company Profile

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.