Today: Northcoast Research Equities Analysts Lower Earnings Estimates for Copart Inc. (CPRT)

Today: Northcoast Research Equities Analysts Lower Earnings Estimates for Copart Inc. (CPRT)

Copart Inc. (NASDAQ:CPRT) – Northcoast Research lowered their Q2 2017 EPS estimates for shares of Copart in a note issued to investors on Wednesday. Northcoast Research analyst J. Healy now forecasts that the firm will post earnings per share of $0.57 for the quarter, down from their previous forecast of $0.58. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Copart’s Q3 2017 earnings at $0.71 EPS and FY2017 earnings at $2.50 EPS.

A number of other research analysts have also weighed in on CPRT. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, September 26th. Stephens set a $61.00 price target on Copart and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $63.00 in a research note on Friday, September 23rd. Jefferies Group reissued a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Finally, Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.57.

Copart (NASDAQ:CPRT) opened at 54.63 on Monday. Copart has a 12-month low of $32.26 and a 12-month high of $56.98. The company has a 50-day moving average price of $53.67 and a 200-day moving average price of $50.70. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 17.02 and a beta of 0.95.

A number of hedge funds have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new stake in shares of Copart during the third quarter valued at about $484,000. D.A. Davidson & CO. increased its stake in shares of Copart by 5.1% in the third quarter. D.A. Davidson & CO. now owns 5,518 shares of the company’s stock valued at $295,000 after buying an additional 270 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Copart by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 581,474 shares of the company’s stock valued at $31,144,000 after buying an additional 1,740 shares in the last quarter. Ashford Capital Management Inc. increased its stake in shares of Copart by 0.3% in the third quarter. Ashford Capital Management Inc. now owns 317,648 shares of the company’s stock valued at $17,013,000 after buying an additional 1,016 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Copart by 86.4% in the third quarter. Ameritas Investment Partners Inc. now owns 29,337 shares of the company’s stock valued at $1,571,000 after buying an additional 13,598 shares in the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock.

In related news, Director James E. Meeks sold 64,222 shares of the stock in a transaction on Friday, October 14th. The stock was sold at an average price of $54.09, for a total value of $3,473,767.98. Following the completion of the sale, the director now directly owns 13,925 shares in the company, valued at approximately $753,203.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $53.61, for a total value of $10,722,000.00. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

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