JPMorgan Chase & Co. Issues Positive Forecast for Copart (NASDAQ:CPRT) Stock Price

Copart (NASDAQ:CPRT) had its price target hoisted by JPMorgan Chase & Co. from $55.00 to $60.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Separately, Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Trading Down 0.2 %

CPRT opened at $56.52 on Tuesday. The business’s 50 day moving average is $53.27 and its 200-day moving average is $53.12. The stock has a market cap of $54.45 billion, a PE ratio of 40.66 and a beta of 1.27. Copart has a twelve month low of $46.21 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.34 EPS. Copart’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts forecast that Copart will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Copart

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cadence Bank grew its holdings in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after acquiring an additional 200 shares during the period. Spinnaker Trust boosted its holdings in Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 200 shares during the period. Values First Advisors Inc. lifted its stake in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares during the period. Finally, Duncan Williams Asset Management LLC lifted its stake in shares of Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after buying an additional 203 shares during the period. 85.78% 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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.