Investors Buy High Volume of Call Options on Copart (CPRT)
Copart, Inc. (NASDAQ:CPRT) saw unusually large options trading activity on Friday. Stock traders acquired 1,697 call options on the stock. This represents an increase of 2,511% compared to the average volume of 65 call options.
A number of research analysts recently commented on CPRT shares. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, November 21st. BidaskClub lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. upped their price target on shares of Copart from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, November 24th. CJS Securities reiterated an “outperform” rating and issued a $42.00 price target on shares of Copart in a research note on Thursday, October 5th. Finally, Robert W. Baird boosted their price objective on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Copart currently has an average rating of “Hold” and an average price target of $41.80.
Shares of Copart (NASDAQ:CPRT) opened at $44.32 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10,250.00, a PE ratio of 34.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.30. Copart has a twelve month low of $27.74 and a twelve month high of $45.26.
In related news, Director Daniel J. Englander sold 68,004 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $43.38, for a total value of $2,950,013.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matt Blunt sold 116,667 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total transaction of $4,895,347.32. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of Copart by 105.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 889,890 shares of the business services provider’s stock worth $28,290,000 after acquiring an additional 456,629 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Copart by 101.4% during the 2nd quarter. Prudential Financial Inc. now owns 127,938 shares of the business services provider’s stock worth $4,067,000 after acquiring an additional 64,409 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Copart by 105.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 34,631 shares of the business services provider’s stock worth $1,101,000 after acquiring an additional 17,805 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Copart by 125.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,064 shares of the business services provider’s stock worth $256,000 after acquiring an additional 4,495 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Copart during the 2nd quarter worth approximately $200,000. 78.62% of the stock is owned by hedge funds and other institutional investors.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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