Dynamic Capital Management Ltd purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,677 shares of the business services provider’s stock, valued at approximately $465,000. Copart accounts for 1.7% of Dynamic Capital Management Ltd’s investment portfolio, making the stock its 20th biggest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Vanguard Group Inc increased its stake in shares of Copart by 3.8% during the 3rd quarter. Vanguard Group Inc now owns 21,828,682 shares of the business services provider’s stock worth $1,124,833,000 after purchasing an additional 795,115 shares during the last quarter. BlackRock Inc. increased its stake in shares of Copart by 3.4% during the 4th quarter. BlackRock Inc. now owns 14,852,890 shares of the business services provider’s stock worth $709,669,000 after purchasing an additional 493,619 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Copart by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 7,397,459 shares of the business services provider’s stock worth $448,211,000 after purchasing an additional 63,195 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Copart by 14.8% during the 1st quarter. Wells Fargo & Company MN now owns 3,762,177 shares of the business services provider’s stock worth $227,951,000 after purchasing an additional 483,889 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Copart during the 4th quarter worth approximately $161,051,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on CPRT shares. ValuEngine upgraded shares of Copart from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. SunTrust Banks lifted their price objective on shares of Copart to $67.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Tuesday, February 19th. Zacks Investment Research lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $66.77.
Shares of NASDAQ:CPRT opened at $74.79 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. Copart, Inc. has a one year low of $44.61 and a one year high of $75.50. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 1.67 and a beta of 0.87.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The company had revenue of $553.12 million during the quarter, compared to the consensus estimate of $535.62 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 2.21 earnings per share for the current fiscal 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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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