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 report released on Friday morning, Marketbeat.com reports.

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $52.65 on Friday. The company has a market capitalization of $50.86 billion, a PE ratio of 35.34 and a beta of 1.30. The company’s fifty day moving average is $56.71 and its 200-day moving average is $55.96. Copart has a 52 week low of $48.05 and a 52 week high of $64.38.

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

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter worth $33,000. Aigen Investment Management LP acquired a new stake in shares of Copart during the third quarter worth $212,000. Haverford Trust Co grew its stake in shares of Copart by 5.1% during the third quarter. Haverford Trust Co now owns 12,694 shares of the business services provider’s stock worth $665,000 after purchasing an additional 613 shares during the period. Finally, MQS Management LLC bought a new stake in Copart in the third quarter valued at about $304,000. Institutional investors own 85.78% of the company’s stock.

About Copart

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.