Today, Copart Inc. (CPRT) Rating Decreased to Equal Weight at Stephens

Today, Copart Inc. (CPRT) Rating Decreased to Equal Weight at Stephens

Stephens lowered shares of Copart Inc. (NASDAQ:CPRT) from an overweight rating to an equal weight rating in a report published on Wednesday.

Several other analysts also recently commented on CPRT. Zacks Investment Research raised shares of Copart from a hold rating to a buy rating and set a $61.00 price objective on the stock in a report on Monday, September 26th. Bank of America Corp. raised shares of Copart from a neutral rating to a buy rating and upped their price objective for the company from $52.00 to $63.00 in a report on Friday, September 23rd. Jefferies Group upped their price objective on shares of Copart from $53.00 to $55.00 and gave the company a hold rating in a report on Thursday, September 22nd. Susquehanna assumed coverage on shares of Copart in a report on Thursday, August 25th. They issued a neutral rating and a $53.00 price objective on the stock. Finally, Barrington Research downgraded shares of Copart from an outperform rating to a market perform rating in a report on Friday, September 23rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $55.57.

Shares of Copart (NASDAQ:CPRT) opened at 54.32 on Wednesday. The company has a market capitalization of $6.12 billion, a P/E ratio of 16.92 and a beta of 0.95. Copart has a one year low of $32.26 and a one year high of $56.98. The firm has a 50-day moving average of $53.70 and a 200-day moving average of $50.89.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Monday, November 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. Copart had a net margin of 29.00% and a return on equity of 35.43%. The business had revenue of $345.99 million for the quarter, compared to analyst estimates of $326.11 million. During the same quarter in the prior year, the business posted $0.42 EPS. Copart’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts forecast that Copart will post $2.46 earnings per share for the current year.

In other Copart news, insider William E. Franklin sold 100,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total transaction of $5,295,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vincent W. Mitz sold 200,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $53.27, for a total transaction of $10,654,000.00. Following the transaction, the president now owns 123,830 shares of the company’s stock, valued at $6,596,424.10. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. boosted its stake in shares of Copart by 0.7% in the third quarter. Eqis Capital Management Inc. now owns 11,322 shares of the company’s stock worth $606,000 after buying an additional 78 shares during the period. Advisor Group Inc. boosted its stake in shares of Copart by 2.8% in the third quarter. Advisor Group Inc. now owns 3,035 shares of the company’s stock worth $162,000 after buying an additional 82 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Copart by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 14,154 shares of the company’s stock worth $694,000 after buying an additional 91 shares during the period. Montag & Caldwell LLC boosted its stake in shares of Copart by 0.6% in the second quarter. Montag & Caldwell LLC now owns 17,540 shares of the company’s stock worth $860,000 after buying an additional 100 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Copart by 1.6% in the third quarter. Sei Investments Co. now owns 11,299 shares of the company’s stock worth $605,000 after buying an additional 173 shares during the period. Institutional investors own 79.89% of the company’s stock.

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