Copart, Inc. (NASDAQ:CPRT) Receives $49.67 Consensus Target Price from Analysts

Copart, Inc. (NASDAQ:CPRT) has earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $49.67.

A number of equities research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $30.00 price target on shares of Copart in a report on Tuesday, April 18th. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, April 25th.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRT. Ameritas Investment Partners Inc. raised its position in shares of Copart by 103.6% in the second quarter. Ameritas Investment Partners Inc. now owns 61,345 shares of the business services provider’s stock worth $1,950,000 after buying an additional 31,214 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Copart by 82.2% in the second quarter. California State Teachers Retirement System now owns 353,973 shares of the business services provider’s stock worth $11,253,000 after buying an additional 159,717 shares during the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Copart by 98.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,856,514 shares of the business services provider’s stock worth $154,389,000 after buying an additional 2,405,427 shares during the last quarter. Rowland & Co. Investment Counsel ADV raised its position in shares of Copart by 98.4% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 60,649 shares of the business services provider’s stock worth $1,929,000 after buying an additional 30,086 shares during the last quarter. Finally, 361 Capital LLC raised its position in shares of Copart by 294.4% in the second quarter. 361 Capital LLC now owns 113,678 shares of the business services provider’s stock worth $3,614,000 after buying an additional 84,855 shares during the last quarter. Hedge funds and other institutional investors own 49.65% of the company’s stock.

Copart (NASDAQ CPRT) opened at 32.075 on Friday. The firm’s 50-day moving average price is $31.38 and its 200-day moving average price is $41.36. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 18.508 and a beta of 1.22. Copart has a 12 month low of $24.71 and a 12 month high of $32.17.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. Copart had a return on equity of 33.20% and a net margin of 29.10%. The firm had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $386.61 million. During the same period last year, the firm posted $0.64 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that Copart will post $1.25 earnings per share for the current year.

Copart Company Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.