Copart (NASDAQ:CPRT) Sets New 1-Year High at $85.34

Posted by on Nov 15th, 2019

Shares of Copart, Inc. (NASDAQ:CPRT) reached a new 52-week high on Thursday . The stock traded as high as $85.34 and last traded at $85.30, with a volume of 50369 shares trading hands. The stock had previously closed at $83.60.

Several analysts recently weighed in on CPRT shares. Robert W. Baird set a $85.00 price objective on Copart and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Barrington Research restated a “hold” rating on shares of Copart in a report on Wednesday, September 11th. BidaskClub downgraded Copart from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Finally, ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $80.40.

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.44 and a quick ratio of 2.36. The firm has a fifty day moving average of $81.85 and a two-hundred day moving average of $76.25. The stock has a market capitalization of $19.28 billion, a P/E ratio of 38.14, a P/E/G ratio of 1.55 and a beta of 0.81.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The business had revenue of $542.60 million during the quarter, compared to the consensus estimate of $517.84 million. Copart had a net margin of 28.98% and a return on equity of 32.83%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 2.67 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers bought a new position in Copart in the third quarter worth about $230,000. Cetera Advisors LLC bought a new position in Copart in the third quarter worth about $350,000. Cetera Advisor Networks LLC bought a new position in Copart in the third quarter worth about $212,000. Rational Advisors LLC purchased a new stake in shares of Copart during the third quarter worth about $357,000. Finally, Banco Santander S.A. purchased a new stake in shares of Copart during the third quarter worth about $208,000. Institutional investors and hedge funds own 80.83% of the company’s stock.

About Copart (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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