Acadian Asset Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,170 shares of the business services provider’s stock, valued at approximately $87,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new position in Copart during the first quarter worth about $34,000. Cordasco Financial Network grew its holdings in Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after acquiring an additional 297 shares during the period. Certified Advisory Corp acquired a new position in Copart during the second quarter worth about $38,000. Meridian Wealth Management LLC acquired a new position in Copart during the first quarter worth about $40,000. Finally, Ruggie Capital Group acquired a new position in Copart during the second quarter worth about $53,000. Institutional investors and hedge funds own 82.22% of the company’s stock.
A number of research analysts recently issued reports on CPRT shares. BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price on the stock. in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their target price on Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Wednesday. Finally, SunTrust Banks lifted their target price on Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $75.21.
In related news, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the transaction, the insider now owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO A Jayson Adair sold 179,461 shares of Copart stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $74.54, for a total value of $13,377,022.94. The disclosure for this sale can be found here. Company insiders own 15.99% of the company’s stock.
NASDAQ:CPRT opened at $80.88 on Friday. The business’s 50-day moving average price is $76.70 and its 200 day moving average price is $69.86. The firm has a market cap of $18.85 billion, a P/E ratio of 35.95, a PEG ratio of 1.59 and a beta of 0.84. Copart, Inc. has a 52-week low of $44.61 and a 52-week high of $83.55. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.25.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $542.60 million for the quarter, compared to analyst estimates of $517.84 million. Copart had a return on equity of 33.84% and a net margin of 28.98%. Copart’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Sell-side analysts expect that Copart, Inc. will post 2.59 EPS for the current year.
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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