Retirement Systems of Alabama boosted its position in Copart, Inc. (NASDAQ:CPRT) by 110.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 505,031 shares of the business services provider’s stock after buying an additional 265,342 shares during the period. Retirement Systems of Alabama owned 0.22% of Copart worth $16,055,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Copart by 167.2% in the first quarter. Huntington National Bank now owns 2,381 shares of the business services provider’s stock worth $148,000 after buying an additional 1,490 shares during the period. Winslow Evans & Crocker Inc. purchased a new position in Copart during the second quarter worth approximately $100,000. Cookson Peirce & Co. Inc. purchased a new position in Copart during the first quarter worth approximately $200,000. Sapphire Star Partners LP purchased a new position in Copart during the first quarter worth approximately $207,000. Finally, Suntrust Banks Inc. purchased a new position in Copart during the first quarter worth approximately $207,000. Institutional investors own 42.25% of the company’s stock.
Shares of Copart, Inc. (CPRT) opened at 31.08 on Tuesday. Copart, Inc. has a 1-year low of $24.71 and a 1-year high of $32.17. The stock has a 50 day moving average price of $31.40 and a 200-day moving average price of $43.12. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 17.93 and a beta of 1.22.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $386.61 million. Copart had a return on equity of 33.20% and a net margin of 29.10%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. On average, equities research analysts expect that Copart, Inc. will post $1.25 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $33.00 price objective on shares of Copart in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $48.80.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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