The Vanguard Group, Inc. recently announced the acquisition of new stake in Copart Inc. (NASDAQ:CPRT). The institutional investor has increased its shareholding in the Industrials company by 0.49% to 46.83 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 9.81% valued currently at $4.14 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.03 million to 23.88 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.19% or 0.51 million shares – to 16.58 million shares.
With over 4.11 million Copart Inc. (CPRT) shares trading Tuesday and a closing price of $44.22 on the day, the dollar volume was approximately $181.88 million. The shares have shown a positive half year performance of 30.21% and its price on 09/12/23 lost nearly -1.73%. Currently, there are 954.88M common shares owned by the public and among those 864.32M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for CPRT have a consensus price objective of $46.63. The analysts have set the share’s price value over the next 12 months at a high of $53.00 and a low of $39.50. The average price target is 5.33% above its recent price level and a downside to the estimated low will see the stock lose -11.95% over that period. But an upside of 16.57% will see the stock hit the forecast high price target while median target price for the stock is $46.50.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 1,140,000 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 1,460,380 shares.
The top 3 mutual fund holders in Copart Inc. are Vanguard Total Stock Market ETF, Principal Funds, Inc. – Mid Cap F, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 13.34 million shares of the company’s stock, all valued at over $1.18 billion. The company sold 14354.0 shares recently to bring their total holdings to about 2.79% of the shares outstanding. Principal Funds, Inc. – Mid Cap F sold -0.32 million shares to see its total holdings shrink to 12.71 million shares valued at over $1.12 billion and representing 2.66% of the shares outstanding. Vanguard 500 Index Fund bought 57656.0 shares to bring its total holdings to over 10.27 million shares at a value of $907.83 million. Vanguard 500 Index Fund now owns shares totaling to 2.15% of the shares outstanding.
Shares of Copart Inc. (NASDAQ: CPRT) opened at $44.84, down -$0.16 from a prior closing price of $45.00. However, the script later moved the day high at 45.00, down -1.73%. The company’s stock has a 5-day price change of -2.17% and 1.73% over the past three months. CPRT shares are trading 45.25% year to date (YTD), with the 12-month market performance up to 52.34% higher. It has a 12-month low price of $26.14 and touched a high of $47.38 over the same period. CPRT has an average intraday trading volume of 4.00 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.17%, -1.03%, and 14.60% respectively.
Institutional ownership of Copart Inc. (NASDAQ: CPRT) shares accounts for 82.60% of the company’s 954.88M shares outstanding. Mutual fund holders own 30.78%, while other institutional holders and individual stakeholders account for 50.91% and 10.15% respectively.
It has a market capitalization of $42.22B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 36.85, while the earnings-per-share (ttm) stands at $1.20. The company has a PEG of 1.65 and a Quick Ratio of 5.80 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.98% over the week and 2.02% over the month.
Analysts forecast that Copart Inc. (CPRT) will achieve an EPS of $0.32 for the current quarter, $0.31 for the next quarter and $1.39 for 2024. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.34. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to increase by 16.00%, and 11.30% over the next financial year. EPS should grow at an annualized rate of 22.30% over the next five years, compared to 22.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Copart Inc. (CPRT) as a “Strong Buy” at a consensus score of 1.80. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CPRT, a number of firms have released research notes about the stock. Argus stated their Buy rating for the stock in a research note on September 08, 2023, with the firm’s price target at $53.