Janney Montgomery Scott LLC Takes Position in Copart, Inc. (CPRT)
Janney Montgomery Scott LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,303 shares of the business services provider’s stock, valued at approximately $1,186,000.
Other hedge funds have also recently bought and sold shares of the company. Comerica Bank boosted its stake in Copart by 12.7% in the first quarter. Comerica Bank now owns 86,533 shares of the business services provider’s stock valued at $2,698,000 after buying an additional 9,735 shares during the last quarter. State Street Corp boosted its stake in Copart by 4.7% in the first quarter. State Street Corp now owns 2,710,207 shares of the business services provider’s stock valued at $167,843,000 after buying an additional 120,457 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Copart during the first quarter valued at $1,294,000. BlueCrest Capital Management Ltd purchased a new stake in Copart during the first quarter valued at $254,000. Finally, Stifel Financial Corp boosted its stake in Copart by 10.0% in the first quarter. Stifel Financial Corp now owns 77,068 shares of the business services provider’s stock valued at $4,770,000 after buying an additional 7,014 shares during the last quarter. 42.25% of the stock is currently owned by institutional investors and hedge funds.
Copart, Inc. (NASDAQ:CPRT) opened at 31.07 on Friday. The stock’s 50 day moving average is $31.35 and its 200 day moving average is $41.95. Copart, Inc. has a 12-month low of $28.89 and a 12-month high of $63.14. The stock has a market capitalization 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 the Zacks’ consensus estimate of $0.36 by $0.01. Copart had a net margin of 29.10% and a return on equity of 33.20%. The firm had revenue of $373.90 million for the quarter, compared to the consensus estimate of $386.61 million. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post $1.25 earnings per share for the current fiscal year.
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CPRT has been the topic of several research reports. Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC lifted their price objective on Copart from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus 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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