Copart (NASDAQ:CPRT – Get Free Report) posted its quarterly earnings data on Thursday. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02, Briefing.com reports. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $987.90 million. Copart had a net margin of 31.99% and a return on equity of 22.46%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share.
Copart Price Performance
Shares of CPRT opened at $50.22 on Friday. Copart has a 1-year low of $29.61 and a 1-year high of $51.53. The stock has a market cap of $48.22 billion, a PE ratio of 39.23 and a beta of 1.19. The firm has a 50-day simple moving average of $45.05 and a two-hundred day simple moving average of $46.39.
Analyst Ratings Changes
Several research firms have recently weighed in on CPRT. StockNews.com raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Copart from $39.50 to $41.00 in a research note on Monday, September 18th. Robert W. Baird raised their price target on shares of Copart from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 15th. Finally, Argus began coverage on shares of Copart in a research note on Friday, September 8th. They issued a “buy” rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.40.
Insider Buying and Selling at Copart
In other Copart news, Director Matt Blunt sold 49,435 shares of Copart stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total transaction of $2,131,142.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Matt Blunt sold 49,435 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total value of $2,131,142.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Fisher sold 160,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $45.69, for a total transaction of $7,310,400.00. The disclosure for this sale can be found here. Company insiders own 10.23% of the company’s stock.
Institutional Investors Weigh In On Copart
Several institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Copart in the first quarter valued at $29,000. Cornerstone Planning Group LLC acquired a new stake in Copart in the second quarter valued at $38,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Copart in the second quarter valued at $38,000. Hollencrest Capital Management raised its stake in Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after buying an additional 210 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in Copart in the second quarter valued at $50,000. 79.26% of the stock is owned by hedge funds and other institutional investors.
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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