Copart (NASDAQ:CPRT) Cut to "Hold" at Argus

Copart (NASDAQ:CPRT - Get Free Report) was downgraded by research analysts at Argus from a "buy" rating to a "hold" rating in a note issued to investors on Friday, MarketBeat reports.

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

Copart Price Performance

CPRT stock traded down $0.83 during mid-day trading on Friday, hitting $52.92. 4,044,194 shares of the stock were exchanged, compared to its average volume of 4,018,884. The business has a fifty day moving average price of $56.65 and a 200 day moving average price of $56.02. Copart has a 12 month low of $48.05 and a 12 month high of $64.38. The stock has a market capitalization of $51.13 billion, a price-to-earnings ratio of 35.52 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results 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. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, equities analysts forecast that Copart will post 1.57 EPS for the current fiscal year.

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Insider Buying and Selling

In other news, 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 value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 315,480 shares of company stock valued at $18,007,983 over the last three months. 9.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CPRT. Mn Services Vermogensbeheer B.V. increased its position in shares of Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock valued at $19,494,000 after buying an additional 8,300 shares during the period. National Pension Service boosted its position in Copart by 3.2% during the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after acquiring an additional 48,334 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Copart during the 4th quarter worth approximately $3,962,000. Sanctuary Advisors LLC grew its holdings in shares of Copart by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock worth $2,765,000 after acquiring an additional 9,222 shares during the period. Finally, Cobblestone Capital Advisors LLC NY raised its position in shares of Copart by 47.4% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider's stock worth $22,565,000 after acquiring an additional 126,436 shares in the last quarter. 85.78% of the stock is currently owned by 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.