Copart (NASDAQ:CPRT) has been assigned a $63.00 price target by stock analysts at SunTrust Banks in a research note issued on Friday, November 23rd. The firm presently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ price objective would suggest a potential upside of 33.93% from the company’s previous close. SunTrust Banks also issued estimates for Copart’s Q2 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $2.08 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.59 EPS and FY2020 earnings at $2.30 EPS.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub upgraded Copart from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Northcoast Research restated a “neutral” rating on shares of Copart in a research report on Monday, September 17th. Barrington Research restated a “hold” rating on shares of Copart in a research report on Tuesday, September 18th. Finally, Gabelli upgraded Copart from a “hold” rating to a “buy” rating in a research report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.14.
Shares of Copart stock traded up $0.08 on Friday, reaching $47.04. The company’s stock had a trading volume of 2,217,500 shares, compared to its average volume of 2,034,166. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 0.97 and a beta of 1.00. Copart has a 52 week low of $39.21 and a 52 week high of $67.08. The company has a current ratio of 3.00, a quick ratio of 2.92 and a debt-to-equity ratio of 0.24.
Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, November 20th. The business services provider reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $461.40 million during the quarter, compared to analyst estimates of $460.09 million. Copart had a return on equity of 29.95% and a net margin of 24.59%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. On average, equities research analysts forecast that Copart will post 2.11 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of CPRT. Pinnacle Financial Partners Inc. bought a new stake in Copart during the third quarter worth approximately $109,000. Cornerstone Advisors Inc. boosted its position in shares of Copart by 88.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after buying an additional 926 shares during the period. First Hawaiian Bank purchased a new position in shares of Copart during the third quarter valued at approximately $117,000. Capital Guardian Trust Co. purchased a new stake in shares of Copart in the third quarter valued at approximately $117,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Copart in the third quarter valued at approximately $118,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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