National Pension Service lowered its stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,891 shares of the business services provider’s stock after selling 18,473 shares during the period. National Pension Service’s holdings in Copart were worth $29,519,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Copart by 177.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 294 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 188 shares in the last quarter. CI Investments Inc. increased its holdings in shares of Copart by 1,003.8% in the third quarter. CI Investments Inc. now owns 287 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 261 shares in the last quarter. Ronald Blue Trust Inc. acquired a new stake in shares of Copart in the second quarter valued at approximately $41,000. Finally, Private Trust Co. NA acquired a new stake in Copart during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 45.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on CPRT. Stephens reaffirmed an “overweight” rating and set a $78.00 target price on shares of Copart in a report on Tuesday, February 21st. Robert W. Baird lifted their target price on shares of Copart from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Guggenheim lifted their target price on shares of Copart from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on shares of Copart in a report on Thursday. They set a “buy” rating for the company.
Copart Stock Up 2.8 %
Shares of CPRT stock opened at $70.01 on Friday. Copart, Inc. has a 12-month low of $51.10 and a 12-month high of $71.68. The firm has a market capitalization of $33.37 billion, a price-to-earnings ratio of 30.26 and a beta of 1.21. The firm has a fifty day moving average of $67.21 and a 200-day moving average of $61.92.
Copart (NASDAQ:CPRT – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Copart had a net margin of 29.45% and a return on equity of 22.93%. The company had revenue of $956.72 million during the quarter, compared to analyst estimates of $934.36 million. During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts expect that Copart, Inc. will post 2.34 earnings per share 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.
- Get a free copy of the StockNews.com research report on Copart (CPRT)
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