** 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))