Starr International Co. Inc. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 54,021 shares of the business services provider’s stock, valued at approximately $3,273,000. Copart accounts for 1.3% of Starr International Co. Inc.’s investment portfolio, making the stock its 29th largest holding.
A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Copart during the 4th quarter worth approximately $161,051,000. Oregon Public Employees Retirement Fund boosted its position in shares of Copart by 2,981.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,084,103 shares of the business services provider’s stock worth $65,000 after purchasing an additional 2,984,019 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Copart by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 21,828,682 shares of the business services provider’s stock worth $1,124,833,000 after purchasing an additional 795,115 shares in the last quarter. Morgan Stanley boosted its position in shares of Copart by 16.8% in the 3rd quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock worth $258,293,000 after purchasing an additional 719,694 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Copart by 142.5% in the 3rd quarter. Legal & General Group Plc now owns 932,724 shares of the business services provider’s stock worth $48,064,000 after purchasing an additional 548,023 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.
Shares of NASDAQ CPRT traded up $1.05 during midday trading on Friday, hitting $70.99. 1,998,983 shares of the stock traded hands, compared to its average volume of 1,314,938. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.61. Copart, Inc. has a one year low of $44.61 and a one year high of $72.51.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $553.12 million for the quarter, compared to analysts’ expectations of $535.62 million. Copart had a return on equity of 30.20% and a net margin of 25.75%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Equities research analysts anticipate that Copart, Inc. will post 2.15 EPS for the current year.
A number of analysts have recently commented on the company. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 7th. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. SunTrust Banks upped their price objective on Copart to $67.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. Guggenheim cut Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective on the stock. in a research report on Friday, May 17th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.52.
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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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