BidaskClub Upgrades Copart (NASDAQ:CPRT) to Buy

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Copart (NASDAQ:CPRT) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other equities analysts have also weighed in on CPRT. Guggenheim increased their target price on Copart from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. ValuEngine lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks increased their target price on Copart from $92.00 to $100.00 and gave the stock an “average” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Copart currently has a consensus rating of “Hold” and an average price target of $85.60.

Shares of Copart stock traded down $0.10 during trading hours on Tuesday, hitting $96.57. The company’s stock had a trading volume of 10,941 shares, compared to its average volume of 1,668,556. Copart has a 12 month low of $48.88 and a 12 month high of $97.16. The stock has a 50 day moving average of $90.90 and a 200 day moving average of $82.46. The company has a market capitalization of $22.39 billion, a PE ratio of 42.97 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.30 and a quick ratio of 2.24.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, November 20th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. Copart had a return on equity of 34.06% and a net margin of 32.59%. The company had revenue of $554.40 million during the quarter, compared to the consensus estimate of $544.46 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities analysts expect that Copart will post 2.77 EPS for the current year.

In related news, Director Thomas N. Tryforos sold 81,467 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $95.84, for a total transaction of $7,807,797.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO A Jayson Adair sold 327,318 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $90.49, for a total value of $29,619,005.82. The disclosure for this sale can be found here. Insiders sold a total of 538,785 shares of company stock valued at $49,564,503 over the last three months. Corporate insiders own 14.34% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CPRT. Venturi Wealth Management LLC purchased a new stake in shares of Copart during the 3rd quarter worth about $25,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Copart during the 3rd quarter worth approximately $26,000. Financial Advantage Inc. acquired a new stake in shares of Copart during the 3rd quarter worth approximately $28,000. Griffin Asset Management Inc. bought a new position in shares of Copart during the 2nd quarter worth approximately $34,000. Finally, Commonwealth Bank of Australia lifted its position in shares of Copart by 132.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock worth $37,000 after buying an additional 295 shares during the period. 78.73% of the stock is owned by institutional investors and hedge funds.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Analyst Recommendations for Copart (NASDAQ:CPRT)

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