Copart, Inc. (NASDAQ:CPRT) Short Interest Update

Copart, Inc. (NASDAQ:CPRT) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 11,750,000 shares, an increase of 6.1% from the September 15th total of 11,070,000 shares. Based on an average daily trading volume, of 4,540,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Institutional Investors Weigh In On Copart

A number of institutional investors and hedge funds have recently modified their holdings of CPRT. Manning & Napier Advisors LLC purchased a new stake in shares of Copart in the second quarter valued at $109,382,000. Price T Rowe Associates Inc. MD boosted its position in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after acquiring an additional 1,500,466 shares during the period. TD Asset Management Inc grew its stake in Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after acquiring an additional 1,469,292 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Copart in the 2nd quarter valued at about $70,307,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 1.6 %

CPRT traded down $0.85 on Thursday, reaching $53.69. The company had a trading volume of 3,800,573 shares, compared to its average volume of 4,484,372. The company has a market capitalization of $51.67 billion, a P/E ratio of 37.81 and a beta of 1.27. The company has a fifty day moving average of $52.16 and a 200-day moving average of $53.34. Copart has a one year low of $42.41 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that Copart will post 1.54 EPS for the current year.

About Copart

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.