State Board of Administration of Florida Retirement System lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 321,794 shares of the business services provider’s stock after selling 6,828 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Copart worth $16,582,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CPRT. Pinnacle Financial Partners Inc. purchased a new position in Copart in the third quarter worth approximately $109,000. Hodges Capital Management Inc. purchased a new position in Copart in the third quarter worth approximately $327,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Copart in the third quarter worth approximately $2,762,000. K.J. Harrison & Partners Inc purchased a new position in Copart in the third quarter worth approximately $1,031,000. Finally, State Treasurer State of Michigan lifted its stake in Copart by 1,018.6% in the third quarter. State Treasurer State of Michigan now owns 668,900 shares of the business services provider’s stock worth $34,468,000 after acquiring an additional 609,100 shares during the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.
A number of research analysts recently issued reports on CPRT shares. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, July 17th. BidaskClub upgraded shares of Copart from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Barrington Research restated a “hold” rating on shares of Copart in a research report on Tuesday, September 18th. Gabelli upgraded shares of Copart from a “hold” rating to a “buy” rating in a research report on Thursday, September 20th. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.14.
Shares of NASDAQ:CPRT opened at $50.27 on Friday. The company has a market cap of $11.88 billion, a PE ratio of 29.06, a P/E/G ratio of 1.04 and a beta of 1.01. The company has a quick ratio of 2.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.25. Copart, Inc. has a twelve month low of $35.32 and a twelve month high of $67.08.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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 for 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 firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that Copart, Inc. will post 2.13 EPS for the current year.
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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