TimesSquare Capital Management LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,105,500 shares of the business services provider’s stock after selling 119,700 shares during the quarter. TimesSquare Capital Management LLC owned about 0.48% of Copart worth $82,625,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Icon Wealth Partners LLC acquired a new position in Copart in the first quarter worth approximately $34,000. Cordasco Financial Network grew its position in Copart by 170.7% in the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after buying an additional 297 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Copart in the first quarter worth approximately $40,000. Quadrant Capital Group LLC grew its position in Copart by 170.3% in the first quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock worth $67,000 after buying an additional 744 shares during the last quarter. Finally, Kavar Capital Partners LLC acquired a new position in Copart in the second quarter worth approximately $76,000. Institutional investors and hedge funds own 83.78% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, May 27th. Barrington Research restated a “hold” rating on shares of Copart in a research report on Friday, May 24th. BidaskClub lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. SunTrust Banks lifted their price target on shares of Copart to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target on the stock. in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.77.
Copart stock traded up $1.02 during midday trading on Friday, reaching $75.57. The stock had a trading volume of 26,198 shares, compared to its average volume of 1,262,105. The firm’s fifty day simple moving average is $76.38 and its two-hundred day simple moving average is $66.92. Copart, Inc. has a twelve month low of $44.61 and a twelve month high of $79.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 1.52 and a beta of 0.82.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 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 firm had revenue of $553.12 million during the quarter, compared to analyst estimates of $535.62 million. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Copart, Inc. will post 2.21 EPS 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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