Raymond James Financial Services Advisors Inc. cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,940 shares of the business services provider’s stock after selling 1,900 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Copart were worth $602,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Nadler Financial Group Inc. purchased a new position in shares of Copart during the fourth quarter valued at about $216,000. Private Advisor Group LLC bought a new stake in Copart during the third quarter worth about $200,000. Zions Bancorporation bought a new stake in Copart during the third quarter worth about $225,000. Genesee Valley Trust Co. bought a new stake in Copart during the fourth quarter worth about $341,000. Finally, First Republic Investment Management Inc. bought a new stake in Copart during the third quarter worth about $315,000. 81.02% of the stock is owned by institutional investors and hedge funds.
CPRT opened at $49.66 on Friday. Copart, Inc. has a fifty-two week low of $28.89 and a fifty-two week high of $51.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.78 and a quick ratio of 1.74. The firm has a market cap of $11,752.83, a P/E ratio of 38.50, a P/E/G ratio of 1.45 and a beta of 0.96.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Monday, February 26th. The business services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.09. The business had revenue of $459.11 million during the quarter, compared to analyst estimates of $427.11 million. Copart had a net margin of 20.95% and a return on equity of 30.94%. Copart’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. research analysts predict that Copart, Inc. will post 1.74 EPS for the current year.
Several research analysts have recently issued reports on the stock. Stephens set a $54.00 target price on shares of Copart and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Jefferies Group restated a “hold” rating and set a $47.00 price objective on shares of Copart in a research report on Tuesday, February 27th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, February 8th. BidaskClub raised shares of Copart from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. Finally, SunTrust Banks initiated coverage on shares of Copart in a report on Thursday, March 22nd. They set a “buy” rating and a $58.00 target price for the company. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.86.
In other news, Director Matt Blunt sold 13,333 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $50.74, for a total value of $676,516.42. Following the completion of the sale, the director now owns 3,333 shares in the company, valued at approximately $169,116.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.40% of the stock is currently owned by company insiders.
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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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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