Hodges Capital Management Inc. Takes $327,000 Position in Copart, Inc. (CPRT)

Share on StockTwits

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.

Shares of NASDAQ:CPRT opened at $48.91 on Thursday. The firm has a market capitalization of $11.34 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. Copart, Inc. has a 52 week low of $35.32 and a 52 week high of $67.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.50 and a current ratio of 2.56.

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.

About Copart

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.

Further Reading: How Do You Calculate Return on Investment (ROI)?

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT).

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply