Credit Suisse AG Boosts Stake in Copart, Inc. (CPRT)
Credit Suisse AG raised its stake in Copart, Inc. (NASDAQ:CPRT) by 17.2% during the first quarter, Holdings Channel reports. The fund owned 225,737 shares of the business services provider’s stock after buying an additional 33,208 shares during the period. Credit Suisse AG’s holdings in Copart were worth $13,980,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Copart by 11,504.1% in the first quarter. BlackRock Inc. now owns 7,903,656 shares of the business services provider’s stock valued at $489,473,000 after buying an additional 7,835,545 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Copart by 31.7% in the first quarter. William Blair Investment Management LLC now owns 5,500,545 shares of the business services provider’s stock valued at $340,649,000 after buying an additional 1,324,570 shares during the last quarter. Norges Bank acquired a new stake in shares of Copart during the fourth quarter valued at $37,267,000. Columbia Wanger Asset Management LLC boosted its stake in shares of Copart by 243.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 818,587 shares of the business services provider’s stock valued at $50,695,000 after buying an additional 580,181 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Copart by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,950,119 shares of the business services provider’s stock valued at $492,351,000 after buying an additional 290,275 shares during the last quarter. 40.33% of the stock is owned by hedge funds and other institutional investors.
Copart, Inc. (NASDAQ CPRT) opened at 30.97 on Monday. The company’s 50 day moving average is $30.87 and its 200 day moving average is $47.16. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 17.87 and a beta of 1.22. Copart, Inc. has a 1-year low of $24.55 and a 1-year high of $32.17.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 24th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $386.61 million. Copart had a net margin of 29.10% and a return on equity of 33.20%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. Equities research analysts forecast that Copart, Inc. will post $1.25 EPS for the current year.
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CPRT has been the subject of several research reports. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $30.00 price target on shares of Copart in a research report on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.80.
Copart Company Profile
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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