Allen Capital Group LLC Makes New $283,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Allen Capital Group LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the third quarter, HoldingsChannel reports. The fund bought 5,396 shares of the business services provider’s stock, valued at approximately $283,000.

A number of other hedge funds have also bought and sold shares of CPRT. WASHINGTON TRUST Co increased its position in shares of Copart by 0.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after purchasing an additional 200 shares during the last quarter. Spinnaker Trust increased its position in shares of Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. increased its position in shares of Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in shares of Copart by 1.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 203 shares during the last quarter. Finally, Burney Co. increased its position in shares of Copart by 1.4% during the 2nd quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock valued at $812,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 10.2 %

Copart stock opened at $62.70 on Friday. The firm has a 50 day moving average of $53.79 and a 200 day moving average of $53.21. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $62.90.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Copart Company Profile

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.