First Horizon Advisors Inc. Has $577,000 Stake in Copart, Inc. (NASDAQ:CPRT)

First Horizon Advisors Inc. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,007 shares of the business services provider’s stock after purchasing an additional 1,081 shares during the period. First Horizon Advisors Inc.’s holdings in Copart were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Optimum Investment Advisors lifted its stake in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in shares of Copart in the third quarter worth approximately $29,000. Crewe Advisors LLC boosted its holdings in shares of Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. grew its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 2.8 %

NASDAQ CPRT opened at $56.97 on Friday. The stock has a market capitalization of $54.88 billion, a PE ratio of 40.98 and a beta of 1.27. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $58.58. The company has a 50 day moving average price of $53.54 and a two-hundred day moving average price of $53.16.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. As a group, equities analysts anticipate that Copart, Inc. will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPRT shares. Robert W. Baird decreased their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday.

Copart 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.