MAI Capital Management lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,320 shares of the business services provider’s stock after selling 1,100 shares during the period. MAI Capital Management’s holdings in Copart were worth $989,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CPRT. Creative Planning grew its holdings in Copart by 1.0% during the 4th quarter. Creative Planning now owns 21,403 shares of the business services provider’s stock valued at $1,023,000 after purchasing an additional 211 shares in the last quarter. CSat Investment Advisory L.P. grew its holdings in Copart by 120.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 283 shares in the last quarter. TD Asset Management Inc. grew its holdings in Copart by 0.5% during the 4th quarter. TD Asset Management Inc. now owns 60,108 shares of the business services provider’s stock worth $2,872,000 after acquiring an additional 294 shares in the last quarter. ETF Managers Group LLC grew its holdings in Copart by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 2,535 shares of the business services provider’s stock worth $121,000 after acquiring an additional 345 shares in the last quarter. Finally, Suntrust Banks Inc. grew its holdings in Copart by 2.3% during the 4th quarter. Suntrust Banks Inc. now owns 17,696 shares of the business services provider’s stock worth $845,000 after acquiring an additional 394 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on CPRT shares. ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. BidaskClub lowered shares of Copart from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 22nd. Barrington Research reissued a “hold” rating on shares of Copart in a report on Tuesday, February 19th. Finally, Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $63.77.
In other news, EVP William E. Franklin sold 140,000 shares of Copart stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the transaction, the executive vice president now directly owns 157,967 shares of the company’s stock, valued at approximately $9,231,591.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 15.99% of the company’s stock.
Shares of NASDAQ CPRT traded down $1.15 during midday trading on Wednesday, hitting $64.79. The company’s stock had a trading volume of 2,311,600 shares, compared to its average volume of 1,282,120. Copart, Inc. has a 1-year low of $44.61 and a 1-year high of $67.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 1.69. The firm has a market capitalization of $15.05 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Copart had a net margin of 25.75% and a return on equity of 30.20%. The business had revenue of $484.90 million during the quarter, compared to analyst estimates of $488.54 million. During the same period in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 2.15 earnings per share for the current year.
Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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