Copart (NASDAQ:CPRT) Downgraded to Sell at BidaskClub

Copart (NASDAQ:CPRT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Several other research analysts also recently commented on the company. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Guggenheim raised Copart from a “neutral” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Friday, October 18th. Finally, Robert W. Baird set a $85.00 price objective on Copart and gave the stock a “buy” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $80.40.

NASDAQ CPRT opened at $81.46 on Friday. The stock’s 50-day moving average price is $81.80 and its 200-day moving average price is $75.82. The company has a quick ratio of 2.36, a current ratio of 2.44 and a debt-to-equity ratio of 0.22. Copart has a 52 week low of $44.61 and a 52 week high of $85.31. The company has a market capitalization of $19.11 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Copart had a return on equity of 32.83% and a net margin of 28.98%. The firm had revenue of $542.60 million for the quarter, compared to the consensus estimate of $517.84 million. During the same quarter last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts anticipate that Copart will post 2.67 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Copart by 4.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,664 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 154 shares during the period. Stephens Inc. AR raised its stake in Copart by 1.2% during the 3rd quarter. Stephens Inc. AR now owns 14,369 shares of the business services provider’s stock valued at $1,154,000 after purchasing an additional 165 shares during the period. World Asset Management Inc raised its stake in Copart by 1.4% during the 2nd quarter. World Asset Management Inc now owns 13,060 shares of the business services provider’s stock valued at $976,000 after purchasing an additional 178 shares during the period. CWM LLC raised its stake in Copart by 11.1% during the 3rd quarter. CWM LLC now owns 1,785 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 178 shares during the period. Finally, ETF Managers Group LLC raised its stake in Copart by 6.5% during the 2nd quarter. ETF Managers Group LLC now owns 2,992 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 182 shares during the period. 80.97% of the stock is currently owned by institutional investors.

About Copart

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.

Read More: What are the reasons investors use put options?

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.