Copart, Inc. (CPRT) Position Boosted by World Asset Management Inc
World Asset Management Inc raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 106.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,732 shares of the business services provider’s stock after buying an additional 7,595 shares during the period. World Asset Management Inc’s holdings in Copart were worth $468,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Ingalls & Snyder LLC raised its position in shares of Copart by 99.9% in the second quarter. Ingalls & Snyder LLC now owns 215,309 shares of the business services provider’s stock valued at $6,845,000 after buying an additional 107,587 shares during the period. FCM Investments TX raised its position in shares of Copart by 18.4% in the second quarter. FCM Investments TX now owns 107,092 shares of the business services provider’s stock valued at $3,404,000 after buying an additional 16,605 shares during the period. CAPROCK Group Inc. acquired a new position in shares of Copart during the second quarter valued at approximately $200,000. CIBC Asset Management Inc raised its position in shares of Copart by 72.4% in the second quarter. CIBC Asset Management Inc now owns 17,686 shares of the business services provider’s stock valued at $562,000 after buying an additional 7,428 shares during the period. Finally, Midas Management Corp raised its position in shares of Copart by 267.6% in the second quarter. Midas Management Corp now owns 98,526 shares of the business services provider’s stock valued at $3,132,000 after buying an additional 71,726 shares during the period. 42.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Copart, Inc. (NASDAQ:CPRT) opened at 31.07 on Friday. The stock has a market cap of $7.16 billion, a P/E ratio of 17.93 and a beta of 1.22. The company has a 50 day moving average price of $31.35 and a 200 day moving average price of $41.95. Copart, Inc. has a 12-month low of $28.89 and a 12-month high of $63.14.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $386.61 million. Copart had a return on equity of 33.20% and a net margin of 29.10%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Analysts anticipate that Copart, Inc. will post $1.25 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 price target on shares of Copart in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.80.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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