Breaking News Instant updates and real-time market news.

CPRT

Copart

$53.73

-2.51 (-4.46%)

07:49
11/23/16
11/23
07:49
11/23/16
07:49

Copart weakness a buying opportunity, says Baird

Baird analyst Craig Kennison said Copart reported impressive Q1 results but the market may have missed it. The analyst noted improved revenues fueled by accidents, higher severity and numerous catastrophes, and market share gains. Kennison raised his estimates and price target and believes investors misunderstand the company dynamics, which will create a trading opportunity. Kennison recommend buying shares on a dip, reiterated his Outperform rating, and raised his price target to $60 from $56 on Copart shares.

CPRT Copart
$53.73

-2.51 (-4.46%)

08/25/16
SUSQ
08/25/16
INITIATION
Target $53
SUSQ
Neutral
Copart initiated with a Neutral at Susquehanna
Susquehanna analyst Ali Faghri initiated Copart with a Neutral and $53 price target.
09/22/16
SPHN
09/22/16
NO CHANGE
Target $61
SPHN
Overweight
Copart price target raised to $61 from $54 at Stephens
Stephens analyst Ben Bienvenu raised his price target for Copart to $61 from $54 after the company reported Q4 results. The analyst notes that Copart delivered another quarter of "strong operating performance" and provided commentary on industry trends that offer secular tailwinds, which when coupled with easy comps entering 2017 should allow the company to accelerate revenue growth and operating leverage. He reiterates an Overweight rating on the shares.
09/23/16
BRRR
09/23/16
DOWNGRADE
BRRR
Market Perform
Copart downgraded to Market Perform from Outperform at Barrington
Barrington analyst Gary Prestopino downgraded Copart to Market Perform citing valuation following the company's "solid" Q4 results.
09/23/16
BOFA
09/23/16
UPGRADE
Target $63
BOFA
Buy
Copart upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Elizabeth Suzuki upgraded Copart to Buy and raised its price target to $63 from $52 following strong Q4 results and an improved outlook. The analyst expects new vehicle sales to slow at this point in the cycle and for Copart's salvage vehicle auction volumes to continue to growth from an aging vehicle fleet, increased miles driven, higher accident rates, and increased complexity of vehicles.

TODAY'S FREE FLY STORIES

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.