Several other research firms also recently issued reports on CPRT. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price objective on shares of Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. ValuEngine downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird set a $85.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.21.
Shares of NASDAQ CPRT traded up $0.31 during trading hours on Friday, hitting $81.37. 757,482 shares of the stock were exchanged, compared to its average volume of 1,527,763. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.44 and a quick ratio of 2.36. The company’s 50 day moving average is $79.28 and its 200 day moving average is $73.08. The firm has a market capitalization of $18.83 billion, a P/E ratio of 36.16, a P/E/G ratio of 1.52 and a beta of 0.82. Copart has a one year low of $44.61 and a one year high of $83.70.
In related news, insider William E. Franklin sold 41,007 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $77.37, for a total transaction of $3,172,711.59. Following the completion of the transaction, the insider now directly owns 58,974 shares in the company, valued at approximately $4,562,818.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.99% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CPRT. Morgan Stanley raised its stake in Copart by 64.3% during the 2nd quarter. Morgan Stanley now owns 5,865,640 shares of the business services provider’s stock valued at $438,398,000 after purchasing an additional 2,296,528 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Copart by 8,848.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,459,779 shares of the business services provider’s stock valued at $109,104,000 after purchasing an additional 1,443,466 shares during the last quarter. BlackRock Inc. raised its stake in Copart by 7.6% during the 2nd quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock valued at $1,184,771,000 after purchasing an additional 1,114,752 shares during the last quarter. FMR LLC raised its stake in Copart by 17.2% during the 1st quarter. FMR LLC now owns 7,226,373 shares of the business services provider’s stock valued at $437,846,000 after purchasing an additional 1,059,798 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Copart during the 2nd quarter valued at $28,566,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.
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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