Copart (CPRT) is Downgraded by Barrington Research to Mkt Perform

Copart (CPRT) was Downgraded by Barrington Research to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Barrington Research advised their investors in a research report released on Sep 23, 2016.

Many Wall Street Analysts have commented on Copart. Company shares were Upgraded by BofA/Merrill on Sep 23, 2016 to ” Buy”, Firm has raised the Price Target to $ 63 from a previous price target of $52 .Susquehanna Initiated Copart on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $53.Copart was Downgraded by Northcoast to ” Neutral” on Aug 25, 2016.

On the company’s financial health, Copart reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $0.55. The company had revenue of $332.70 million for the quarter, compared to analysts expectations of $317.98 million. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Copart closed down -0.63 points or -1.18% at $52.87 with 14,03,499 shares getting traded on Thursday. Post opening the session at $54, the shares hit an intraday low of $52.84 and an intraday high of $54 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.


Leave a Reply

Copart - Is it time to Sell?

Top Brokerage Firms are advising their investors on Copart. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.