Bank of Montreal Can acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,376 shares of the business services provider’s stock, valued at approximately $1,030,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank boosted its position in Copart by 167.2% in the first quarter. Huntington National Bank now owns 2,381 shares of the business services provider’s stock valued at $148,000 after buying an additional 1,490 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Copart during the first quarter valued at $200,000. Sapphire Star Partners LP purchased a new position in Copart during the first quarter valued at $207,000. Suntrust Banks Inc. purchased a new position in Copart during the first quarter valued at $207,000. Finally, Evanston Investments Inc. dba Evanston Advisors purchased a new position in Copart during the first quarter valued at $208,000. 49.65% of the stock is owned by institutional investors.
Copart, Inc. (NASDAQ:CPRT) traded down 0.47% during mid-day trading on Monday, reaching $31.73. The company had a trading volume of 256,502 shares. Copart, Inc. has a one year low of $24.71 and a one year high of $32.43. The company has a market capitalization of $7.31 billion, a P/E ratio of 18.31 and a beta of 1.22. The stock has a 50 day moving average price of $31.43 and a 200 day moving average price of $41.05.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $386.61 million. Copart had a return on equity of 33.20% and a net margin of 29.10%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities analysts expect that Copart, Inc. will post $1.25 earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on the company. Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 price objective on shares of Copart in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.80.
About Copart
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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