Copart Inc. (NASDAQ: CPRT) stock jumped 1.22% on Thursday to $44.85 against a previous-day closing price of $44.31. With 4.46 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.03 million shares. During the session, the Specialty Business Services company that operates in wider Industrials sector, reached to the highest price of $45.00 whereas the lowest price it dropped to was $44.33. The 52-week range on CPRT shows that it touched its highest point at $47.38 and its lowest point at $26.14 during that stretch. It currently has a 1-year price target of $46.71. Beta for the stock currently stands at 1.19.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CPRT was up-trending over the past week, with a rise of 0.56%, but this was up by 1.84% over a month. Three-month performance surged to 3.89% while six-month performance rose 31.74%. The stock gained 62.87% in the past year, while it has gained 47.31% so far this year. A look at the trailing 12-month EPS for CPRT yields 1.20 with Next year EPS estimates of 1.38. For the next quarter, that number is 0.32. This implies an EPS growth rate of 16.00% for this year and 11.30% for next year. EPS is expected to grow by 22.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 22.10%.
Float and Shares Shorts:
At present, 954.88 million CPRT shares are outstanding with a float of 864.32 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.39 million, which was 0.87% higher than short shares on Jul 30, 2023. In addition to Mr. Willis J. Johnson as the firm’s Founder & Exec. Chairman, Mr. A. Jayson Adair serves as its Co-CEO & Director.
Through their ownership of 82.58% of CPRT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.91% of CPRT, in contrast to 30.78% held by mutual funds. Shares owned by individuals account for 11.87%. As the largest shareholder in CPRT with 9.81% of the stake, The Vanguard Group, Inc. holds 46,834,324 shares worth 46,834,324. A second-largest stockholder of CPRT, BlackRock Fund Advisors, holds 23,878,466 shares, controlling over 5.00% of the firm’s shares. Principal Global Investors LLC is the third largest shareholder in CPRT, holding 20,226,338 shares or 4.24% stake. With a 2.79% stake in CPRT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 13,341,093 shares are owned by the mutual fund manager. The Principal Funds, Inc. – Mid Cap F, which owns about 2.66% of CPRT stock, is the second-largest Mutual Fund holder. It holds 12,711,653 shares valued at 1.12 billion. Vanguard 500 Index Fund holds 2.15% of the stake in CPRT, owning 10,270,691 shares worth 907.83 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CPRT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CPRT analysts setting a high price target of $53.00 and a low target of $39.50, the average target price over the next 12 months is $46.63. Based on these targets, CPRT could surge 18.17% to reach the target high and fall by -11.93% to reach the target low. Reaching the average price target will result in a growth of 3.97% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CPRT stock several times over the past three months with 6 Buys and 2 Sells. In these transactions, 660,000 shares were bought while 960,000 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 1,140,000 while 1,460,380 shares were sold.