Ashford Capital Management Inc. Has $2.35 Million Position in Copart, Inc. $CPRT

Ashford Capital Management Inc. lessened its position in Copart, Inc. (NASDAQ:CPRT) by 54.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,879 shares of the business services provider’s stock after selling 84,110 shares during the period. Ashford Capital Management Inc.’s holdings in Copart were worth $2,353,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter valued at about $25,000. Reflection Asset Management bought a new position in Copart during the fourth quarter worth about $34,000. Cache Advisors LLC bought a new position in Copart during the first quarter worth about $31,000. Triumph Capital Management boosted its stake in shares of Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CPRT. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and an average target price of $43.50.

Copart Trading Up 6.6%

Shares of CPRT stock opened at $29.79 on Tuesday. The stock has a market cap of $27.58 billion, a P/E ratio of 18.50 and a beta of 1.02. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The stock has a 50 day simple moving average of $30.10 and a 200 day simple moving average of $33.98.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. Analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.