Key Points
- Director Diane Morefield sold 20,000 Copart shares at an average price of $27.66, generating $553,200. The transaction reduced her holdings by 28.57% to 50,000 shares.
- Copart’s latest quarterly results showed $1.15 billion in revenue, up 2.4% year over year, but earnings per share of $0.35 fell short of the $0.38 analyst consensus.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $37.80, while institutional investors own 85.78% of Copart’s stock.
Copart, Inc. (NASDAQ:CPRT - Get Free Report) Director Diane Morefield sold 20,000 shares of the business's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $1,383,000. This trade represents a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Copart Price Performance
Shares of CPRT stock opened at $27.51 on Tuesday. Copart, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $45.89. The stock's 50-day moving average is $30.05 and its two-hundred day moving average is $30.76. The firm has a market cap of $25.48 billion, a P/E ratio of 17.75, a PEG ratio of 1.36 and a beta of 1.06.
Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.63 EPS for the current year.
Hedge Funds Weigh In On Copart
Several institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC increased its holdings in shares of Copart by 44.2% during the 3rd quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider's stock valued at $11,527,000 after acquiring an additional 129,591 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Copart by 14.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock valued at $11,076,000 after acquiring an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Copart by 6.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider's stock valued at $16,307,000 after acquiring an additional 34,855 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Copart by 3,034.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 200,557 shares of the business services provider's stock valued at $5,471,000 after acquiring an additional 194,159 shares in the last quarter. Finally, Cohen Capital Management Inc. acquired a new stake in Copart in the 3rd quarter worth approximately $1,780,000. 85.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on CPRT. Robert W. Baird dropped their price objective on Copart from $42.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Freedom Broker reduced their target price on shares of Copart from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 14th. Barclays set a $25.00 target price on shares of Copart and gave the stock an "underweight" rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Copart currently has a consensus rating of "Moderate Buy" and an average price target of $37.80.
Check Out Our Latest Stock Report on Copart
Copart Company Profile
(
Get Free Report)
Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.
Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.
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