Hodges Capital Management Inc. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, Holdings Channel reports. The fund acquired 6,337 shares of the business services provider’s stock, valued at approximately $327,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its holdings in shares of Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after acquiring an additional 926 shares during the last quarter. First Hawaiian Bank purchased a new position in Copart in the 3rd quarter worth $117,000. TRUE Private Wealth Advisors purchased a new position in Copart in the 3rd quarter worth $118,000. Financial Architects Inc raised its position in Copart by 211.7% in the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock worth $151,000 after purchasing an additional 1,812 shares during the period. Finally, Atlantic Trust LLC purchased a new position in Copart in the 2nd quarter worth $165,000. 82.66% of the stock is owned by institutional investors.
CPRT has been the topic of a number of analyst reports. ValuEngine cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Tuesday, September 18th. JPMorgan Chase & Co. cut shares of Copart from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $48.00 to $47.00 in a research report on Friday, September 21st. BidaskClub cut shares of Copart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. Finally, Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Copart presently has a consensus rating of “Hold” and an average price target of $55.14.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Copart had a net margin of 23.14% and a return on equity of 29.92%. The firm had revenue of $449.20 million during the quarter, compared to analysts’ expectations of $448.64 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Copart’s revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 2.13 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 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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