First Hawaiian Bank acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,270 shares of the business services provider’s stock, valued at approximately $117,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. Cornerstone Advisors Inc. lifted its stake in shares of Copart by 88.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 926 shares during the period. Financial Architects Inc lifted its stake in shares of Copart by 211.7% in the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 1,812 shares during the period. Atlantic Trust LLC purchased a new position in shares of Copart in the 2nd quarter valued at approximately $165,000. CENTRAL TRUST Co lifted its stake in shares of Copart by 1,457.5% in the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 2,915 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of Copart by 119.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 1,850 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.
A number of research firms have recently commented on CPRT. BidaskClub upgraded Copart from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 5th. Barrington Research restated a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, September 18th. Northcoast Research restated a “neutral” rating on shares of Copart in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. cut Copart from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $48.00 to $47.00 in a research note on Friday, September 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.14.
Shares of NASDAQ:CPRT opened at $50.29 on Monday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 1.03 and a beta of 1.01. Copart, Inc. has a 12-month low of $35.32 and a 12-month high of $67.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.56 and a quick ratio of 2.50.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The company had revenue of $449.20 million for the quarter, compared to analysts’ expectations of $448.64 million. Copart had a net margin of 23.14% and a return on equity of 29.92%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, research analysts anticipate that Copart, Inc. will post 2.13 EPS for the current year.
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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