SunTrust Banks Raises Copart (CPRT) Price Target to $78.00

Copart (NASDAQ:CPRT) had its price objective hoisted by analysts at SunTrust Banks to $78.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ price objective suggests a potential upside of 9.83% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price for the company. in a research report on Friday, May 17th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Copart currently has an average rating of “Hold” and an average target price of $66.52.

Shares of NASDAQ CPRT traded up $1.08 during mid-day trading on Friday, hitting $71.02. 131,823 shares of the stock traded hands, compared to its average volume of 1,307,740. The company has a quick ratio of 1.61, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Copart has a twelve month low of $44.61 and a twelve month high of $70.47. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 41.05, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98.



Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Copart had a return on equity of 30.20% and a net margin of 25.75%. The company had revenue of $553.12 million for the quarter, compared to the consensus estimate of $535.62 million. During the same quarter last year, the business posted $0.52 EPS. Copart’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts anticipate that Copart will post 2.15 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in CPRT. CSat Investment Advisory L.P. raised its position in shares of Copart by 120.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock worth $25,000 after acquiring an additional 283 shares in the last quarter. Doyle Wealth Management bought a new position in shares of Copart in the 4th quarter worth about $29,000. One Wealth Advisors LLC bought a new position in shares of Copart in the 1st quarter worth about $33,000. Icon Wealth Partners LLC bought a new position in shares of Copart in the 1st quarter worth about $34,000. Finally, Cresset Asset Management LLC bought a new position in shares of Copart in the 1st quarter worth about $38,000. 83.46% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Copart (NASDAQ:CPRT)

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