Hsbc Holdings PLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 80.8% in the third quarter, Holdings Channel reports. The fund owned 151,110 shares of the business services provider’s stock after buying an additional 67,511 shares during the quarter. Hsbc Holdings PLC’s holdings in Copart were worth $7,786,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in shares of Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 926 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new position in shares of Copart during the 3rd quarter valued at about $109,000. First Hawaiian Bank acquired a new position in shares of Copart during the 3rd quarter valued at about $117,000. TRUE Private Wealth Advisors acquired a new position in shares of Copart during the 3rd quarter valued at about $118,000. Finally, Financial Architects Inc increased its stake in shares of Copart by 211.7% during the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 1,812 shares during the last quarter. 79.49% of the stock is owned by institutional investors.
Shares of NASDAQ:CPRT opened at $49.04 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.00 and a quick ratio of 2.92. Copart, Inc. has a 1 year low of $39.21 and a 1 year high of $67.08. The stock has a market cap of $11.53 billion, a PE ratio of 28.35, a PEG ratio of 1.01 and a beta of 1.00.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, November 20th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. Copart had a return on equity of 29.95% and a net margin of 24.59%. The business had revenue of $461.40 million during the quarter, compared to analysts’ expectations of $460.09 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that Copart, Inc. will post 2.11 EPS for the current year.
CPRT has been the subject of a number of research analyst reports. BidaskClub raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Northcoast Research reaffirmed a “neutral” rating on shares of Copart in a research note on Monday, September 17th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, September 18th. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.14.
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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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