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Copart, Inc.
Type
Public
Traded as NASDAQ: CPRT
S&P 400 Component
Industry Automotive
Founded Vallejo, California (1982) ((1982))
Founder Willis J. Johnson
Headquarters Dallas, Texas, U.S.
Number of locations
190+
Key people
Willis J. Johnson (Chairman)
A. Jayson Adair (CEO)
Vincent W. Mitz (President)
Revenue Increase US$1,163,489 (2014) Dollar figures in 000s
Operating income
Decrease US$274,934 (2014)
Net income
Decrease US$178,687 (2014)
Total assets Increase US$1,506,804 (2014)
Total equity Increase US$1,003,499 (2014)
Number of employees
4,179 (2014)
Website copart.com

Copart, Inc., headquartered in Dallas, Texas, is a provider of online vehicle auction and remarketing services in the United States (U.S.), Canada, and the United Kingdom (U.K.) and has acquired or opened operations in Germany,Ireland, Brazil, Spain, the United Arab Emirates, and India.

Copart provides vehicle sellers with a range of services to process and sell salvage and clean title vehicles over the Internet using its patented virtual auction technology.

Copart's buyers are principally used vehicle dealers, dismantlers, rebuilders, exporters and, at some facilities, the general public. Vehicle sellers at Copart auctions consist primarily of insurance companies but also include banks and financial institutions, charities, vehicle dealers, fleet operators, government agencies and rental car companies. Copart has partnered with many brokers like Abetter.bid (www.abetter.bid) and A to Z Salvage (www.atozsalvage.com) who offer various value added services such as bidding and buying advice, repair services, transportation, export shipping, etc.

The majority of vehicles Copart sells 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 for which an insurance settlement with the owner has already been made.

Copart, through its Copart Direct division, also purchases vehicles directly from the general public for resale.

In 2012, Copart relocated its corporate headquarters from Fairfield, California, to Dallas, Texas. Copart's Dallas headquarters building consists of approximately 53,000 square feet (4,900 m) of leased office space.

Copart was founded in 1982 by Willis J. Johnson in Vallejo, California.

Willis Johnson began expanding Copart in the early 1990s through private loans and equity. By the early '90s, the company had grown to four locations in northern California; and by March 1994, it had added another eight new facilities, culminating in the acquisition of the largest volume seller of salvage in the United States, North Texas Salvage Pool of Dallas, Texas.

With a vision of transforming the salvage industry from a collection of individual salvage yards into a modern, sophisticated information and service business, Willis Johnson began developing Copart's information technology in the 1990s. The first major step in this process was the creation of the Copart Auction System (CAS) in 1997, which was designed to unify and support the growing business as well as allow Copart facilities and sellers to access information, generate reports, and increase operating efficiencies. The next step came in 1998 with Copart's introduction of Internet bidding—a departure from the industry standard of local physical auctions. As Internet bidding grew in popularity, Copart developed its online auction platform, VB, which it implemented in 2003. VB technology transformed Copart from a salvage vehicle auction company, where buyers attended onsite auctions, into a technology company, opening the sales process to registered buyers (members) and sellers anywhere in the world who have Internet access. In fiscal 2004 in North America and fiscal 2008 in the U.K., Copart discontinued all live auctions and began remarketing vehicles through VB. Copart now sells more than one million vehicles each year through VB technology.

On March 17, 1994, Copart had its initial public offering (IPO) at $12 per share and debuted on the NASDAQ under the symbol "CPRT." Copart's IPO of 2.3 million shares of stock provided the company with the means to become a national company.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2021 2020-11-18 Future report Set alerts
Q4 2020 2020-09-02 0.69 0.69
Q3 2020 2020-05-20 0.58 0.62
Q2 2020 2020-02-19 0.65 0.71
Q1 2020 2019-11-20 0.65 0.91
Q4 2019 2019-09-04 0.60 0.64
Q3 2019 2019-05-22 0.66 0.81
Q2 2019 2019-02-20 0.52 0.55
Q1 2019 2018-11-20 0.47 0.47
Q4 2018 2018-09-19 0.42 0.45

Ratings

2016-05-27 Boost Price Target JPMorgan Chase & Co. Neutral $43.00 to $50.00
2016-05-27 Reiterated Rating Jefferies Group Hold $40.00 to $53.00
2016-04-05 Initiated Coverage Gabelli Hold $46.00
2016-03-21 Downgrade Bank of America Buy to Neutral
2016-03-21 Downgrade Bank of America Corp. Buy to Neutral
2016-02-25 Upgrade CL King Sell to Neutral
2016-01-15 Initiated Coverage Jefferies Group Hold $40.00
2015-05-29 Upgrade SunTrust Reduce to Neutral $33.00
2015-05-29 Upgrade SunTrust Banks Inc. Reduce to Neutral $33.00
2015-04-28 Initiated Coverage SunTrust Reduce $33.00
2015-02-24 Upgrade Bank of America Underperform to Buy
2014-12-05 Reiterated Rating JPMorgan Chase & Co. Hold $39.00 to $41.00
2014-02-27 Boost Price Target BB&T Corp. $39.00 to $42.00
2014-02-27 Boost Price Target JPMorgan Chase & Co. Neutral $36.00 to $38.00
2013-12-02 Upgrade Stephens Equal Weight to Overweight $34.00 to $40.00
2013-11-26 Upgrade BB&T Capital Mkts Hold to Buy $39
2013-11-26 Upgrade BB&T Corp. Hold to Buy $39.00
2013-09-27 Lower Price Target JPMorgan Chase & Co. Neutral $37.00 to $36.00
2013-09-23 Upgrade Robert W. Baird Neutral to Outperform $38.00 to $42.00
2013-02-04 Downgrade Robert W. Baird Outperform to Neutral $33 to $36
2013-02-01 Upgrade BB&T Capital Mkts Hold to Buy
2012-11-29 Upgrade BB&T Capital Mkts Hold to Buy $34
2012-10-31 Upgrade Robert W. Baird Neutral to Outperform $33
2012-06-05 Downgrade Barrington Research Outperform to Mkt Perform
2011-09-22 Reiterated RBC Capital Mkts Sector Perform $45 to $42
2011-01-25 Downgrade Robert W. Baird Outperform to Neutral $42
2010-12-16 Reiterated RBC Capital Mkts Sector Perform $36 to $39
2010-09-24 Reiterated RBC Capital Mkts Sector Perform $39 to $36
2010-06-04 Reiterated CL King Accumulate $38 to $42
2009-12-22 Initiated Thomas Weisel Overweight
2009-02-18 Upgrade Robert W. Baird Neutral to Outperform $30
2009-01-30 Reiterated RBC Capital Mkts Outperform $35 to $29
2008-11-26 Downgrade Robert W. Baird Outperform to Neutral $49 to $30
2016-05-27 Boost Price Target JPMorgan Chase & Co. Neutral $43.00 to $50.00
2016-05-27 Reiterated Rating Jefferies Group Hold $40.00 to $53.00
2016-04-05 Initiated Coverage Gabelli Hold $46.00
2016-03-21 Downgrade Bank of America Buy to Neutral
2016-03-21 Downgrade Bank of America Corp. Buy to Neutral

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
JOHNSON WILLIS J Chairman of the Board 5.57%  (7025645) CPRT /
ADAIR A JAYSON Chief Executive Officer 5.56%  (7008566) CPRT /
Englander Daniel J 0.37%  (472340) CPRT / CRMT / HWAY /
FRANKLIN WILLIAM E Chief Financial Officer 0.09%  (108058) CPRT /
STYER PAUL A Sr VP, Secretary, Gen Csl 0.06%  (70718) CPRT /
MITZ VINCENT W President 0.04%  (47660) CPRT /
MEEKS JAMES E 0.03%  (37136) CPRT /
COHAN STEVEN D 0.01%  (16637) CPRT /
Lindle John SVP Strategic Growth 0.01%  (14350) CPRT /
ROTE SIMON V.P. of Finance 0.01%  (10130) CPRT /

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