Ashford Capital Management Inc. raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 99.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 462,615 shares of the business services provider’s stock after buying an additional 230,310 shares during the quarter. Copart comprises 2.6% of Ashford Capital Management Inc.’s portfolio, making the stock its 12th largest position. Ashford Capital Management Inc. owned approximately 0.20% of Copart worth $14,707,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. Winslow Evans & Crocker Inc. acquired a new stake in Copart during the second quarter valued at approximately $100,000. Salem Investment Counselors Inc. raised its stake in Copart by 100.0% during the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after buying an additional 2,047 shares in the last quarter. Parallel Advisors LLC raised its stake in Copart by 2.6% during the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after buying an additional 111 shares in the last quarter. Smithfield Trust Co. raised its stake in Copart by 104.8% during the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock valued at $171,000 after buying an additional 2,749 shares in the last quarter. Finally, Huntington National Bank raised its stake in Copart by 136.5% during the second quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,249 shares in the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.
In other Copart news, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the sale, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the sale, the director now directly owns 3,500 shares in the company, valued at $120,155. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.
Shares of Copart, Inc. (NASDAQ:CPRT) traded up 0.58% during mid-day trading on Friday, hitting $36.32. The stock had a trading volume of 1,075,449 shares. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 21.88 and a beta of 1.19. Copart, Inc. has a one year low of $28.89 and a one year high of $63.14. The firm has a 50 day moving average of $33.65 and a 200 day moving average of $33.59.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts forecast that Copart, Inc. will post $1.43 earnings per share for the current year.
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Several analysts have issued reports on the company. CJS Securities restated an “outperform” rating and set a $42.00 price objective on shares of Copart in a research note on Thursday, October 5th. Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Robert W. Baird upped their price objective on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Finally, Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective on shares of Copart in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Copart has an average rating of “Hold” and a consensus price target of $37.33.
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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