Key Points
- Copart CEO Jeffrey Liaw sold 27,745 shares at an average price of $30.49, generating approximately $845,945. Following the transaction, his holdings fell 21.78% to 99,641 shares.
- Copart shares opened at $29.57, with the stock trading below its 200-day moving average of $33.79 and well below its one-year high of $50.11.
- The company recently beat quarterly expectations, reporting $0.43 in earnings per share and $1.24 billion in revenue. Analysts maintain a consensus “Hold” rating with a $43.50 price target, while institutional investors own 85.78% of the stock.
Copart, Inc. (NASDAQ:CPRT - Get Free Report) CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Copart Price Performance
Shares of Copart stock opened at $29.57 on Friday. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of 18.37 and a beta of 1.02. The stock's 50-day moving average is $29.91 and its 200-day moving average is $33.79. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.
Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities analysts expect that Copart, Inc. will post 1.58 EPS for the current year.
Institutional Trading of Copart
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider's stock valued at $1,470,295,000 after acquiring an additional 492,506 shares during the period. Capital World Investors increased its stake in shares of 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 purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider's stock valued at $906,836,000 after purchasing an additional 131,703 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the period. Finally, Norges Bank acquired a new stake in Copart in the 4th quarter valued at about $569,569,000. 85.78% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on CPRT shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a research note on Wednesday. Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Finally, Barclays set a $26.00 price target on shares of Copart and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Three equities research 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 issued a Sell rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of "Hold" and a consensus price target of $43.50.
Read Our Latest Report on Copart
Copart Company Profile
(
Get Free Report)
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.
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