** Copart CPRT.O shares down 3% to $59 premarket
** Co on Thursday reported quarterly revenue and net income below Wall Street estimates as weak vehicle sales and higher expenses offset growth in service segment
** CPRT posted Q3 total revenue of $1.21 bln, missing analyst estimates of $1.23 bln
** Co posted Q3 net income of $406.6 mln, slightly below the estimates of $407.34 mln, according to data compiled by LSEG
** J.P.Morgan cut the price target to $55 from $60, a downside of 9.3% to the stock's last close, rating unchanged at 'neutral'
** Says co's Q3 results amplify concerns around insurance volume growth trajectory and competitive pressure from resurgence of its rival Insurance Auto Auctions $(IAA)$
** Six of eleven brokerages rate the stock "buy" or higher, five "hold"; their median PT is $64- data compiled by LSEG
** As of last close, stock had risen 5.7% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.