Jefferies Group Boosts Copart (NASDAQ:CPRT) Price Target to $40.00

Copart (NASDAQ:CPRT) had its price objective raised by equities research analysts at Jefferies Group to $40.00 in a report released on Thursday, November 23rd, The Fly reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Jefferies Group’s target price suggests a potential downside of 8.09% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Tuesday, November 21st. Wolfe Research started coverage on shares of Copart in a report on Tuesday, November 7th. They issued a “market perform” rating on the stock. CJS Securities restated an “outperform” rating and issued a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Finally, Robert W. Baird boosted their price objective on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Copart has an average rating of “Hold” and an average target price of $41.40.

Copart (NASDAQ:CPRT) traded up $0.53 during trading on Thursday, reaching $43.52. 1,797,900 shares of the company were exchanged, compared to its average volume of 1,103,772. Copart has a 1 year low of $27.06 and a 1 year high of $43.72. The firm has a market cap of $9,943.76, a PE ratio of 32.08, a P/E/G ratio of 1.42 and a beta of 1.31. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. Copart had a net margin of 20.01% and a return on equity of 29.96%. The firm had revenue of $419.17 million for the quarter, compared to analysts’ expectations of $377.37 million. During the same quarter last year, the company earned $0.29 EPS. sell-side analysts predict that Copart will post 1.5 EPS for the current fiscal year.

In related news, Director Matt Blunt sold 116,667 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total value of $4,895,347.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Insiders have sold 476,667 shares of company stock worth $17,252,147 over the last quarter. Insiders own 16.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CPRT. Vanguard Group Inc. lifted its stake in Copart by 103.5% in the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock valued at $514,387,000 after buying an additional 8,230,677 shares during the last quarter. BlackRock Inc. lifted its stake in Copart by 103.6% in the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock valued at $511,611,000 after buying an additional 8,189,852 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Copart by 91.4% in the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock valued at $334,636,000 after buying an additional 5,025,918 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 106.5% in the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock valued at $235,810,000 after buying an additional 3,826,242 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its stake in Copart by 109.9% in the second quarter. Wasatch Advisors Inc. now owns 7,061,828 shares of the business services provider’s stock valued at $224,496,000 after buying an additional 3,697,382 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Copart (NASDAQ:CPRT)

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