Raymond James & Associates boosted its position in Copart, Inc. (NASDAQ:CPRT) by 4.8% in the first quarter, HoldingsChannel reports. The firm owned 372,024 shares of the business services provider’s stock after purchasing an additional 17,133 shares during the quarter. Raymond James & Associates’ holdings in Copart were worth $22,541,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Brasada Capital Management LP lifted its stake in Copart by 3.7% during the first quarter. Brasada Capital Management LP now owns 51,278 shares of the business services provider’s stock worth $3,107,000 after purchasing an additional 1,818 shares during the last quarter. Toronto Dominion Bank lifted its position in Copart by 14.9% in the 1st quarter. Toronto Dominion Bank now owns 139,664 shares of the business services provider’s stock valued at $8,460,000 after acquiring an additional 18,105 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in Copart by 3.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 117,770 shares of the business services provider’s stock valued at $7,136,000 after acquiring an additional 4,000 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Copart by 3.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 20,957 shares of the business services provider’s stock valued at $1,270,000 after buying an additional 778 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Copart by 6.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 120,084 shares of the business services provider’s stock valued at $7,276,000 after buying an additional 6,956 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.
In other Copart news, EVP William E. Franklin sold 140,000 shares of Copart stock in a transaction on 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 owns 157,967 shares of the company’s stock, valued at $9,231,591.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.99% of the company’s stock.
NASDAQ CPRT opened at $65.36 on Tuesday. The firm has a market cap of $14.97 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. 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 current ratio of 1.69 and a quick ratio of 1.61.
Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $484.90 million during the quarter, compared to the consensus estimate of $488.54 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts predict that Copart, Inc. will post 2.15 EPS for the current fiscal year.
CPRT has been the subject of several analyst reports. ValuEngine upgraded Copart from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. BidaskClub lowered Copart from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 22nd. SunTrust Banks increased their price target on Copart to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Tuesday, February 19th. Finally, Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.77.
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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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