Copart (NASDAQ:CPRT) Price Target Raised to $60.00

Copart (NASDAQ:CPRT - Get Free Report) had its price target hoisted by JPMorgan Chase & Co. from $55.00 to $60.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 6.16% from the stock's previous close.

Separately, Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $0.11 on Tuesday, reaching $56.52. The company's stock had a trading volume of 4,540,771 shares, compared to its average volume of 4,392,068. The company has a 50-day simple moving average of $53.27 and a 200 day simple moving average of $53.12. Copart has a 52-week low of $46.21 and a 52-week high of $58.58. The company has a market cap of $54.45 billion, a P/E ratio of 40.66 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts forecast that Copart will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Copart

Large investors have recently bought and sold shares of the business. Edgestream Partners L.P. bought a new position in shares of Copart in the first quarter worth about $644,000. O Shaughnessy Asset Management LLC increased its position in shares of Copart by 8.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 72,083 shares of the business services provider's stock worth $4,175,000 after acquiring an additional 5,445 shares during the period. Lake Street Advisors Group LLC raised its stake in shares of Copart by 10.3% during the first quarter. Lake Street Advisors Group LLC now owns 9,923 shares of the business services provider's stock valued at $575,000 after acquiring an additional 930 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of Copart by 24.5% in the first quarter. Pitcairn Co. now owns 10,889 shares of the business services provider's stock valued at $631,000 after purchasing an additional 2,143 shares during the period. Finally, Fayez Sarofim & Co bought a new position in Copart in the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

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.