Barrington Research Downgrades Copart (CPRT) to Market Perform; Cutting Estimates on Weak Top Line
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Price: $31.90 +1.05%
Rating Summary:
0 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
0 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CPRT Now!
Barrington Research downgraded Copart (NASDAQ: CPRT) from Outperform to Market Perform with a price target of $27.00.
Analyst, Gary Prestopino, said, "The stock has hit our price target of the mid-$20 range and is fairly valued in our opinion. CPRT’s solid long term fundamental outlook remains intact. We would not commit new money to the shares at these price levels and are moving to a MARKET PERFORM rating on the shares."
"We are adjusting our FY/12 and FY/13 EPS estimates to $1.35 and $1.53 from
$1.37 and $1.55, respectively."
For an analyst ratings summary and ratings history on Copart click here. For more ratings news on Copart click here.
Shares of Copart closed at $25.31 yesterday, with a 52 week range of $24.60-$53.67.
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Analyst, Gary Prestopino, said, "The stock has hit our price target of the mid-$20 range and is fairly valued in our opinion. CPRT’s solid long term fundamental outlook remains intact. We would not commit new money to the shares at these price levels and are moving to a MARKET PERFORM rating on the shares."
"We are adjusting our FY/12 and FY/13 EPS estimates to $1.35 and $1.53 from
$1.37 and $1.55, respectively."
For an analyst ratings summary and ratings history on Copart click here. For more ratings news on Copart click here.
Shares of Copart closed at $25.31 yesterday, with a 52 week range of $24.60-$53.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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