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BofA Merrill disclosed Copart (NASDAQ:CPRT), boosting its stock price target to $63.00 today

In a report released on 09/23/2016 BofA Merrill increased the stock price target of Copart (NASDAQ:CPRT) from $52.00 to $63.00 stating a potential upside of 0.19%.

Previously on 9/22/2016, Jefferies & Co reported on Copart (NASDAQ:CPRT) bumped up the target price from $53.00 to $55.00 that suggested an upside of 0.03%.

Boasting a price of $52.87, Copart (NASDAQ:CPRT) traded 1.89% higher on the day. The last stock close price is up 15.13% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. The company has recorded a 50-day moving average of $51.21 and a 200-day moving average of $46.79. Trade Volume was down over the average, with 458,381 shares of CPRT changing hands under the typical 583,469

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Copart has a price-earnings ratio of 24.38 with a one year low of $32.26 and a one year high of $54.85 The company’s market cap is currently $0.

In addition to BofA Merrill reporting its target price, a total of 9 firms have reported on the stock. The consensus target price is $41.94 with 5 firms rating the stock a strong buy, 1 firm rating the stock a buy, 3 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On Copart (NASDAQ:CPRT)

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.

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