Copart (CPRT) is Initiated by Susquehanna to Neutral, Price Target at $53

Copart (CPRT) was Initiated by Susquehanna to “Neutral” and the brokerage firm has set the Price Target at $53. Susquehanna advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on Copart. Copart was Downgraded by Northcoast to ” Neutral” on Aug 25, 2016.

On the company’s financial health, Copart reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 25, 2016. Analyst had a consensus of $0.54. The company had revenue of $347.20 million for the quarter, compared to analysts expectations of $320.52 million. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Copart opened for trading at $53.06 and hit $53.2 on the upside on Tuesday, eventually ending the session at $52.95, with a gain of 0.28% or 0.15 points. The heightened volatility saw the trading volume jump to 3,19,312 shares. Company has a market cap of $5,792 M.

In a different news, on Jul 15, 2016, Robert H. Vannuccini (Senior Vice President, Sales) sold 12,577 shares at $49.96 per share price. According to the SEC, on Jul 6, 2016, Paul A Styer (Sr VP, Secretary, Gen Csl) sold 7,640 shares at $49.26 per share price. On Jun 1, 2016, Steven D Cohan (director) sold 160,000 shares at $48.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Copart Inc. is a provider of online auctions and vehicle remarketing services in the United States Canada the United Kingdom the United Arab Emirates Oman Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3). It sells vehicles primarily to insurance companies and also to banks and financial institutions charities car dealerships fleet operators and vehicle rental companies. It sells the vehicles to licensed vehicle dismantlers rebuilders repair licensees used vehicle dealers and exporters and at certain locations to the general public. The Company that sells vehicles on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies or are recovered stolen vehicles.


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