JPMorgan Chase & Co. Increases Copart (NASDAQ:CPRT) Price Target to $52.00

Copart (NASDAQ:CPRT) had its price target boosted by JPMorgan Chase & Co. from $48.00 to $52.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Separately, StockNews.com cut Copart from a buy rating to a hold rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $51.00.

Copart Stock Performance

CPRT opened at $56.00 on Monday. The business’s fifty day moving average is $53.92 and its two-hundred day moving average is $49.59. The company has a market cap of $53.84 billion, a price-to-earnings ratio of 40.29 and a beta of 1.22. Copart has a one year low of $37.92 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Copart will post 1.42 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Copart

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Copart during the first quarter valued at about $29,000. Cornerstone Planning Group LLC purchased a new stake in shares of Copart in the second quarter worth about $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Copart in the second quarter worth about $38,000. Hollencrest Capital Management boosted its position in shares of Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock worth $33,000 after buying an additional 210 shares during the period. Finally, Rise Advisors LLC purchased a new stake in shares of Copart in the first quarter worth about $28,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Company Profile

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.