Copart (NASDAQ:CPRT) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Copart (NASDAQ:CPRT) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays set a $26.00 price target on shares of Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.50.

Copart Stock Up 0.4%

Shares of CPRT stock opened at $30.82 on Tuesday. Copart has a 12-month low of $26.81 and a 12-month high of $50.11. The company has a market capitalization of $28.53 billion, a PE ratio of 19.14 and a beta of 1.02. The firm has a 50 day moving average price of $30.01 and a two-hundred day moving average price of $33.87.

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

Institutional Trading of Copart

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its position in Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the period. Sierra Legacy Group raised its position in shares of Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares in the last quarter. Brown Miller Wealth Management LLC lifted its holdings in shares of Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after acquiring an additional 268 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after acquiring an additional 282 shares during the period. 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.