Copart (CPRT) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Copart (NASDAQ:CPRT) from a hold rating to a buy rating in a research report report published on Monday morning, ValuEngine reports.

A number of other brokerages have also weighed in on CPRT. SunTrust Banks upped their target price on Copart to $67.00 and gave the stock a buy rating in a research note on Tuesday, February 26th. Zacks Investment Research upgraded Copart from a hold rating to a buy rating and set a $65.00 target price on the stock in a research note on Monday, March 11th. Barrington Research restated a hold rating on shares of Copart in a research note on Tuesday, February 19th. Finally, BidaskClub upgraded Copart from a buy rating to a strong-buy rating in a research note on Thursday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Copart has an average rating of Buy and an average target price of $59.25.

Shares of NASDAQ CPRT opened at $62.18 on Monday. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 1.69. Copart has a twelve month low of $44.61 and a twelve month high of $67.08.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, February 20th. The business services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $484.90 million for the quarter, compared to analyst estimates of $488.54 million. Copart had a return on equity of 30.20% and a net margin of 25.75%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. Research analysts forecast that Copart will post 2.15 EPS for the current fiscal year.

In other news, EVP William E. Franklin sold 140,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $58.44, for a total transaction of $8,181,600.00. Following the transaction, the executive vice president now directly owns 157,967 shares in the company, valued at approximately $9,231,591.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Englander sold 80,000 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $49.53, for a total value of $3,962,400.00. Following the transaction, the director now owns 555,128 shares in the company, valued at $27,495,489.84. The disclosure for this sale can be found here. 15.99% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CPRT. CSat Investment Advisory L.P. boosted its holdings in Copart by 120.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 283 shares during the period. Doyle Wealth Management purchased a new stake in Copart during the 4th quarter valued at about $29,000. Lindbrook Capital LLC purchased a new stake in Copart during the 4th quarter valued at about $41,000. First Personal Financial Services boosted its holdings in Copart by 142.6% during the 4th quarter. First Personal Financial Services now owns 1,368 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 804 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Copart by 2,981.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,084,103 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 2,984,019 shares during the period. Institutional investors own 85.26% of the company’s stock.

About Copart

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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Analyst Recommendations for Copart (NASDAQ:CPRT)

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