Copart (NASDAQ:CPRT) Sets New 12-Month High at $149.27

Copart, Inc. (NASDAQ:CPRT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $149.27 and last traded at $149.21, with a volume of 86805 shares changing hands. The stock had previously closed at $144.59.

A number of research firms have recently weighed in on CPRT. Truist raised their price target on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Robert W. Baird raised their price target on shares of Copart from $130.00 to $150.00 and gave the stock an “average” rating in a research report on Friday, September 10th. Zacks Investment Research downgraded shares of Copart from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, August 31st. Truist Securities raised their price target on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Finally, Barrington Research reissued a “market perform” rating on shares of Copart in a research report on Wednesday, September 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $143.83.

The company has a 50 day moving average of $143.04 and a 200-day moving average of $128.36. The stock has a market capitalization of $35.27 billion, a P/E ratio of 37.91 and a beta of 1.03. The company has a quick ratio of 3.94, a current ratio of 4.04 and a debt-to-equity ratio of 0.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, September 7th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.12. The firm had revenue of $748.63 million for the quarter, compared to analysts’ expectations of $686.93 million. Copart had a return on equity of 28.62% and a net margin of 34.78%. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. Equities analysts forecast that Copart, Inc. will post 3.92 EPS for the current fiscal year.

In other Copart news, CEO A Jayson Adair sold 130,000 shares of the firm’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $139.21, for a total value of $18,097,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven D. Cohan sold 80,000 shares of the firm’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $139.46, for a total value of $11,156,800.00. The disclosure for this sale can be found here. Insiders sold 573,293 shares of company stock worth $77,786,349 over the last quarter. 12.61% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CPRT. Amundi acquired a new position in shares of Copart during the second quarter valued at $300,576,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Copart by 32.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,041,484 shares of the business services provider’s stock valued at $796,449,000 after purchasing an additional 1,472,685 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Copart by 29.0% during the second quarter. JPMorgan Chase & Co. now owns 3,903,578 shares of the business services provider’s stock valued at $514,610,000 after purchasing an additional 877,756 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Copart by 7,517.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 864,332 shares of the business services provider’s stock valued at $113,945,000 after purchasing an additional 852,985 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Copart during the second quarter worth about $94,657,000. 81.28% of the stock is currently owned by institutional investors.

Copart Company Profile (NASDAQ:CPRT)

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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