Copart (CPRT) Rating Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Copart (NASDAQ:CPRT) from a hold rating to a sell rating in a research report released on Wednesday, January 31st.

CPRT has been the subject of several other research reports. Robert W. Baird reissued a buy rating and set a $44.00 price objective on shares of Copart in a report on Friday, November 24th. Stephens set a $49.00 target price on Copart and gave the stock a hold rating in a research report on Wednesday, January 17th. Jefferies Group boosted their target price on Copart to $40.00 and gave the stock a hold rating in a research report on Thursday, November 23rd. Wolfe Research started coverage on Copart in a research report on Tuesday, November 7th. They issued a market perform rating for the company. Finally, Gabelli restated a hold rating on shares of Copart in a research report on Friday, November 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Copart currently has a consensus rating of Hold and an average target price of $44.17.

Shares of Copart (CPRT) traded up $0.79 during midday trading on Wednesday, hitting $41.54. The stock had a trading volume of 1,363,093 shares, compared to its average volume of 908,334. Copart has a 52 week low of $28.44 and a 52 week high of $46.09. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9,608.37, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The company had revenue of $419.17 million during the quarter, compared to analyst estimates of $377.37 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. analysts anticipate that Copart will post 1.52 EPS for the current year.

In related news, Director Daniel J. Englander sold 68,004 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 116,667 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total value of $4,895,347.32. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado lifted its position in Copart by 3.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 42,575 shares of the business services provider’s stock valued at $1,839,000 after purchasing an additional 1,265 shares during the last quarter. Sei Investments Co. lifted its position in Copart by 3.2% in the third quarter. Sei Investments Co. now owns 44,899 shares of the business services provider’s stock valued at $1,544,000 after purchasing an additional 1,382 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Copart by 6.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 25,164 shares of the business services provider’s stock valued at $1,087,000 after purchasing an additional 1,442 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Copart by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 23,040 shares of the business services provider’s stock valued at $792,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Comerica Bank lifted its position in Copart by 1.0% in the fourth quarter. Comerica Bank now owns 173,484 shares of the business services provider’s stock valued at $7,759,000 after purchasing an additional 1,782 shares during the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://stocknewstimes.com/2018/02/11/copart-cprt-downgraded-by-bidaskclub-to-sell.html.

About Copart

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.

Analyst Recommendations for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply