Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,770 shares of the business services provider’s stock, valued at approximately $1,016,000.
A number of other large investors have also modified their holdings of the business. Morgan Stanley grew its position in shares of Copart by 16.8% during the 3rd quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock worth $258,293,000 after purchasing an additional 719,694 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Copart by 1.2% during the 4th quarter. American International Group Inc. now owns 73,082 shares of the business services provider’s stock worth $3,492,000 after acquiring an additional 871 shares during the period. Lindbrook Capital LLC bought a new stake in shares of Copart during the 4th quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Copart by 10.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 8,850 shares of the business services provider’s stock worth $423,000 after acquiring an additional 858 shares during the period. Finally, YCG LLC lifted its holdings in shares of Copart by 56.5% during the 4th quarter. YCG LLC now owns 380,632 shares of the business services provider’s stock worth $18,187,000 after acquiring an additional 137,417 shares during the period. 84.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CPRT. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a report on Monday, February 25th. SunTrust Banks upped their price target on shares of Copart to $67.00 and gave the stock a “buy” rating in a report on Tuesday, February 26th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Monday, February 4th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Copart has an average rating of “Hold” and a consensus price target of $62.67.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Copart had a net margin of 25.75% and a return on equity of 30.20%. The company had revenue of $484.90 million during the quarter, compared to the consensus estimate of $488.54 million. During the same quarter in the prior year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 2.15 earnings per share for the current year.
In related news, EVP William E. Franklin sold 140,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the transaction, the executive vice president now owns 157,967 shares of the company’s stock, valued at approximately $9,231,591.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.99% of the stock is owned by corporate insiders.
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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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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