Copart, Inc. (CPRT) Short Interest Up 41.4% in September

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Copart, Inc. (NASDAQ:CPRT) was the target of a significant increase in short interest during the month of September. As of September 28th, there was short interest totalling 5,806,557 shares, an increase of 41.4% from the September 14th total of 4,106,974 shares. Based on an average daily trading volume, of 4,911,101 shares, the short-interest ratio is currently 1.2 days. Currently, 2.9% of the shares of the company are sold short.

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in Copart by 27.3% during the second quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock valued at $374,741,000 after buying an additional 1,420,739 shares during the period. Northern Trust Corp grew its position in Copart by 35.1% during the second quarter. Northern Trust Corp now owns 2,119,824 shares of the business services provider’s stock valued at $119,897,000 after buying an additional 551,294 shares during the period. Bank of America Corp DE grew its position in Copart by 1.2% during the second quarter. Bank of America Corp DE now owns 1,441,175 shares of the business services provider’s stock valued at $81,512,000 after buying an additional 16,905 shares during the period. Janus Henderson Group PLC grew its position in Copart by 6.8% during the second quarter. Janus Henderson Group PLC now owns 1,355,709 shares of the business services provider’s stock valued at $76,679,000 after buying an additional 86,514 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Copart by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,305,852 shares of the business services provider’s stock valued at $73,856,000 after buying an additional 4,137 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

NASDAQ:CPRT opened at $50.38 on Friday. The firm has a market capitalization of $11.97 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.04 and a beta of 1.00. Copart has a 1-year low of $35.32 and a 1-year high of $67.08. The company has a current ratio of 2.56, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The business had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. Copart had a return on equity of 29.92% and a net margin of 23.14%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. Research analysts predict that Copart will post 2.15 EPS for the current fiscal year.

A number of research firms have issued reports on CPRT. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 5th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, September 18th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Copart in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Copart has a consensus rating of “Hold” and a consensus price target of $55.14.

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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