Copart (NASDAQ:CPRT) Price Target Cut to $56.00 by Analysts at Robert W. Baird

Copart (NASDAQ:CPRT) had its price objective cut by Robert W. Baird from $58.00 to $56.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $49.51 on Thursday. The stock has a 50 day moving average price of $52.39 and a 200 day moving average price of $53.81. The firm has a market capitalization of $47.64 billion, a P/E ratio of 34.87 and a beta of 1.27. Copart has a 52-week low of $42.41 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last released its earnings results 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 business 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 20.80% and a net margin of 33.33%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. As a group, sell-side analysts forecast that Copart will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Copart during the fourth quarter valued at $3,285,000. Gilbert & Cook Inc. raised its holdings in shares of Copart by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 28,553 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 469 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Copart in the 4th quarter worth approximately $332,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Copart by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,997,638 shares of the business services provider’s stock valued at $244,884,000 after purchasing an additional 185,974 shares in the last quarter. Finally, Gryphon Financial Partners LLC purchased a new position in Copart during the fourth quarter valued at approximately $114,000. 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.