BlackRock Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,359,271 shares of the business services provider’s stock after buying an additional 1,029,566 shares during the period. BlackRock Inc. owned about 6.14% of Copart worth $739,932,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Cornerstone Advisors Inc. lifted its stake in Copart by 88.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after purchasing an additional 926 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Copart during the second quarter worth about $637,000. Massachusetts Financial Services Co. MA lifted its stake in Copart by 3.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,219,760 shares of the business services provider’s stock worth $68,990,000 after purchasing an additional 35,811 shares during the last quarter. Dupont Capital Management Corp lifted its stake in Copart by 3.4% during the second quarter. Dupont Capital Management Corp now owns 36,647 shares of the business services provider’s stock worth $2,073,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Copart during the second quarter worth about $419,000. Institutional investors and hedge funds own 78.77% of the company’s stock.
CPRT has been the subject of several research analyst reports. BidaskClub raised Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Northcoast Research reaffirmed a “neutral” rating on shares of Copart in a research note on Monday, September 17th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, September 18th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.14.
CPRT opened at $51.18 on Monday. The stock has a market capitalization of $11.98 billion, a PE ratio of 29.58, a P/E/G ratio of 1.05 and a beta of 1.01. The company has a current ratio of 2.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.25. Copart, Inc. has a 12 month low of $39.21 and a 12 month high of $67.08.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, November 20th. The business services provider reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The firm had revenue of $461.40 million for the quarter, compared to the consensus estimate of $460.09 million. Copart had a return on equity of 31.05% and a net margin of 24.59%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, analysts predict that Copart, Inc. will post 2.12 earnings per share for the current year.
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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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