Mount Yale Investment Advisors LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,318 shares of the business services provider’s stock, valued at approximately $475,000.
Other institutional investors have also modified their holdings of the company. Signaturefd LLC purchased a new position in shares of Copart in the 1st quarter worth $111,000. Wolverine Asset Management LLC purchased a new position in shares of Copart in the 4th quarter worth $101,000. Captrust Financial Advisors purchased a new position in shares of Copart in the 4th quarter worth $172,000. Eaton Vance Management purchased a new position in shares of Copart in the 1st quarter worth $216,000. Finally, IBM Retirement Fund purchased a new position in shares of Copart in the 1st quarter worth $223,000. 79.91% of the stock is currently owned by institutional investors.
Shares of Copart opened at $55.17 on Thursday, according to Marketbeat. Copart, Inc. has a 12-month low of $30.30 and a 12-month high of $60.43. The firm has a market capitalization of $13.07 billion, a P/E ratio of 33.70, a P/E/G ratio of 1.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.27.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. Copart had a return on equity of 31.21% and a net margin of 21.81%. The firm had revenue of $478.20 million during the quarter, compared to the consensus estimate of $434.74 million. During the same period in the prior year, the firm earned $0.38 EPS. analysts forecast that Copart, Inc. will post 1.79 earnings per share for the current year.
Several brokerages recently weighed in on CPRT. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 21st. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, May 30th. Gabelli reaffirmed a “hold” rating on shares of Copart in a research report on Friday, May 25th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Monday, May 28th. Finally, Stephens lowered Copart from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Copart currently has a consensus rating of “Buy” and an average price target of $50.63.
In related news, insider William E. Franklin sold 100,000 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $57.52, for a total value of $5,752,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $57.47, for a total value of $11,494,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 550,000 shares of company stock valued at $31,686,500. 16.40% of the stock is owned by insiders.
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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