IFP Advisors Inc decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 28.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,432 shares of the business services provider’s stock after selling 1,398 shares during the period. IFP Advisors Inc’s holdings in Copart were worth $177,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cornerstone Advisors Inc. grew its holdings 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 worth $112,000 after acquiring an additional 926 shares during the period. First Hawaiian Bank purchased a new position in shares of Copart during the 3rd quarter worth approximately $117,000. TRUE Private Wealth Advisors purchased a new position in shares of Copart during the 3rd quarter worth approximately $118,000. Financial Architects Inc grew its holdings 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 worth $151,000 after acquiring an additional 1,812 shares during the period. Finally, Atlantic Trust LLC purchased a new position in shares of Copart during the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.
Copart stock opened at $50.27 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $11.88 billion, a P/E ratio of 29.19, a P/E/G ratio of 1.04 and a beta of 1.01. Copart, Inc. has a twelve month low of $35.32 and a twelve month high of $67.08.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.06). The company had revenue of $449.20 million during 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 business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. On average, analysts expect that Copart, Inc. will post 2.13 EPS for the current fiscal year.
A number of research analysts have weighed in on the company. BidaskClub upgraded Copart from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Gabelli upgraded Copart from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. SunTrust Banks set a $63.00 price target on Copart and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, Northcoast Research restated a “neutral” rating on shares of Copart in a research note on Monday, September 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Copart has a consensus rating of “Hold” and a consensus 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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