Copart, Inc. [NASDAQ: CPRT] slipped around -0.66 points on Wednesday, while shares priced at $56.03 at the close of the session, down -1.16%. The company report on March 11, 2024 at 4:03 PM that Copart Appoints Jeff Liaw as CEO and Director and Jay Adair as Executive Chairman.
Copart, Inc. (NASDAQ: CPRT) today announced that its Board of Directors has appointed Jeff Liaw as the company’s sole Chief Executive Officer (CEO) and as a member of the Board of Directors. Mr. Liaw has been serving as Co-CEO since March 2022. In addition, Jay Adair, who served as the Company’s CEO from February 2010 to February 2022 and as Co-CEO along with Mr. Liaw since March 2022 will step down from that role. In addition, the Board of Directors has appointed Mr. Adair as Executive Chairman, and he will remain an active executive officer of the company in that capacity. The above changes are effective April 1, 2024.
Mr. Liaw joined Copart in 2016 as Chief Financial Officer (CFO) and was promoted to President in 2019. Mr. Liaw was named Copart’s CEO North America in February of 2021 and Co-CEO in March of 2022. Prior to joining Copart, Mr. Liaw served as the CFO of FleetPride, Inc. and as a principal of TPG Capital Management, L.P., a private equity firm. He earned a B.A. and B.B.A. from the University of Texas, and an M.B.A. from Harvard.
Compared to the average trading volume of 4.74M shares, CPRT reached a trading volume of 3767126 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Copart, Inc. [CPRT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPRT shares is $55.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPRT stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Copart, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Hold. The new note on the price target was released on December 04, 2023, representing the official price target for Copart, Inc. stock. Previously, the target price had yet another raise to $53, while Argus analysts kept a Buy rating on CPRT stock.
The Average True Range (ATR) for Copart, Inc. is set at 1.02, with the Price to Sales ratio for CPRT stock in the period of the last 12 months amounting to 13.27. The Price to Book ratio for the last quarter was 7.94, with the Price to Cash per share for the same quarter was set at 2.78. Price to Free Cash Flow for CPRT in the course of the last twelve months was 62.92 with Quick ratio for the last quarter at 6.78.
How has CPRT stock performed recently?
Copart, Inc. [CPRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.34. With this latest performance, CPRT shares gained by 2.75% in over the last four-week period, additionally plugging by 23.93% over the last 6 months – not to mention a rise of 49.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPRT stock in for the last two-week period is set at 52.15, with the RSI for the last a single of trading hit 45.26, and the three-weeks RSI is set at 56.23 for Copart, Inc. [CPRT]. The present Moving Average for the last 50 days of trading for this stock 53.58, while it was recorded at 56.26 for the last single week of trading, and 47.96 for the last 200 days.
Copart, Inc. [CPRT]: Deeper insight into the fundamentals
Copart, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.78 and a Current Ratio set at 6.86.
Earnings analysis for Copart, Inc. [CPRT]
With the latest financial reports released by the company, Copart, Inc. posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Copart, Inc. go to 22.30%.
Insider trade positions for Copart, Inc. [CPRT]
The top three institutional holders of CPRT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CPRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CPRT stock with ownership which is approximately 5.8386%.
