Zacks Research Upgrades Copart (NASDAQ:CPRT) to Hold

Copart (NASDAQ:CPRT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research firms have also recently weighed in on CPRT. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $40.00 in a research report on Thursday, September 3rd. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Copart Stock Down 3.3%

NASDAQ:CPRT opened at $32.60 on Monday. The firm has a market capitalization of $30.18 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. Copart has a twelve month low of $26.81 and a twelve month high of $49.11. The stock’s 50 day moving average price is $30.27 and its two-hundred day moving average price is $32.16.

Insider Buying and Selling at Copart

In other 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 transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several institutional investors have recently added to or reduced their stakes in the company. National Pension Service grew its holdings in Copart by 5.0% in the 2nd quarter. National Pension Service now owns 1,508,427 shares of the business services provider’s stock valued at $42,523,000 after buying an additional 71,785 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Copart by 11.6% in the second quarter. Engineers Gate Manager LP now owns 540,194 shares of the business services provider’s stock valued at $15,228,000 after acquiring an additional 56,237 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Copart by 46.6% in the second quarter. Integrated Wealth Concepts LLC now owns 513,401 shares of the business services provider’s stock valued at $14,473,000 after acquiring an additional 163,280 shares during the period. NewEdge Advisors LLC grew its stake in shares of Copart by 22.0% in the second quarter. NewEdge Advisors LLC now owns 25,842 shares of the business services provider’s stock valued at $729,000 after acquiring an additional 4,652 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Copart by 75.4% in the second quarter. IFP Advisors Inc now owns 3,330 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 1,431 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

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.