Iberiabank Corp trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 59.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,067 shares of the business services provider’s stock after selling 19,076 shares during the period. Iberiabank Corp’s holdings in Copart were worth $673,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of Copart by 1.2% during the 2nd quarter. Bank of America Corp DE now owns 1,441,175 shares of the business services provider’s stock worth $81,512,000 after acquiring an additional 16,905 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Copart by 62.9% during the 2nd quarter. Schroder Investment Management Group now owns 516,749 shares of the business services provider’s stock worth $28,944,000 after acquiring an additional 199,533 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Copart by 119.4% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock worth $192,000 after acquiring an additional 1,850 shares during the last quarter. FMR LLC lifted its stake in shares of Copart by 27.3% during the 2nd quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock worth $374,741,000 after acquiring an additional 1,420,739 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Copart during the 2nd quarter worth approximately $7,387,000. 83.11% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, July 17th. Barrington Research restated a “hold” rating on shares of Copart in a report on Tuesday, September 18th. ValuEngine downgraded Copart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. downgraded Copart from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $48.00 to $47.00 in a report on Friday, September 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Copart presently has a consensus rating of “Hold” and an average price target of $55.14.
CPRT opened at $50.38 on Friday. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 1.04 and a beta of 1.00. Copart, Inc. has a 52 week low of $35.32 and a 52 week high of $67.08. The company has a current ratio of 2.56, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.06). The firm had revenue of $449.20 million for the quarter, compared to analysts’ expectations of $448.64 million. Copart had a return on equity of 29.92% and a net margin of 23.14%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, equities research analysts forecast that Copart, Inc. will post 2.15 EPS for the current fiscal 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 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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