Copart (CPRT) Lifted to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Copart (NASDAQ:CPRT) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

Other equities research analysts have also issued research reports about the stock. Gabelli reissued a hold rating on shares of Copart in a report on Friday, May 25th. ValuEngine raised shares of Copart from a hold rating to a buy rating in a report on Saturday, May 12th. Zacks Investment Research raised shares of Copart from a hold rating to a buy rating and set a $65.00 price target on the stock in a report on Tuesday, July 17th. Barrington Research reissued a hold rating on shares of Copart in a report on Tuesday, May 22nd. Finally, Stephens lowered shares of Copart from an overweight rating to an equal weight rating in a report on Friday, May 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $51.38.

Shares of Copart stock opened at $65.53 on Wednesday. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.27 and a current ratio of 2.33. Copart has a 52-week low of $31.81 and a 52-week high of $65.77.

In other news, insider William E. Franklin sold 90,000 shares of the company’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $58.94, for a total value of $5,304,600.00. Following the sale, the insider now owns 107,462 shares of the company’s stock, valued at approximately $6,333,810.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Liaw sold 30,000 shares of the company’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $58.41, for a total transaction of $1,752,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 640,000 shares of company stock worth $36,991,100. 16.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its position in Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after buying an additional 926 shares in the last quarter. First Republic Investment Management Inc. lifted its position in Copart by 10.1% during the 1st quarter. First Republic Investment Management Inc. now owns 10,111 shares of the business services provider’s stock worth $515,000 after buying an additional 931 shares in the last quarter. Navellier & Associates Inc lifted its position in Copart by 3.4% during the 1st quarter. Navellier & Associates Inc now owns 30,400 shares of the business services provider’s stock worth $1,548,000 after buying an additional 994 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in Copart by 0.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 127,008 shares of the business services provider’s stock worth $7,184,000 after buying an additional 1,052 shares in the last quarter. Finally, BB&T Securities LLC lifted its position in Copart by 9.0% during the 2nd quarter. BB&T Securities LLC now owns 13,081 shares of the business services provider’s stock worth $739,000 after buying an additional 1,084 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Copart (NASDAQ:CPRT)

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