Copart (NASDAQ:CPRT) Cut to Hold at Argus

Argus lowered shares of Copart (NASDAQ:CPRT) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat Ratings reports.

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Stock Up 0.7 %

CPRT stock opened at $52.65 on Friday. Copart has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm’s 50-day simple moving average is $56.71 and its 200 day simple moving average is $56.01. The stock has a market cap of $50.86 billion, a PE ratio of 35.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities analysts forecast that Copart will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. Company insiders own 9.68% of the company’s stock.

Hedge Funds Weigh In On Copart

Several hedge funds have recently made changes to their positions in the business. HighPoint Advisor Group LLC grew its stake in shares of Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock worth $577,000 after purchasing an additional 175 shares during the last quarter. Sandy Spring Bank grew its stake in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Cadence Bank grew its stake in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after purchasing an additional 178 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Copart by 3.2% in the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock worth $345,000 after purchasing an additional 184 shares during the last quarter. Finally, Everpar Advisors LLC grew its stake in shares of Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds 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.