Arizona State Retirement System lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 65.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,403 shares of the business services provider’s stock after selling 241,298 shares during the period. Arizona State Retirement System owned about 0.05% of Copart worth $6,462,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. DnB Asset Management AS purchased a new stake in shares of Copart in the 2nd quarter valued at approximately $1,176,000. IFM Investors Pty Ltd purchased a new stake in shares of Copart in the 2nd quarter valued at approximately $403,000. CENTRAL TRUST Co raised its stake in shares of Copart by 1,457.5% in the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 2,915 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Copart in the 2nd quarter valued at approximately $226,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Copart by 187.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 52,494 shares of the business services provider’s stock valued at $2,968,000 after acquiring an additional 34,220 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
Shares of CPRT stock opened at $50.36 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.56 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $11.76 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. Copart, Inc. has a fifty-two week low of $35.32 and a fifty-two week high of $67.08.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). The business had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. Copart had a net margin of 23.14% and a return on equity of 29.92%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. As a group, research analysts predict that Copart, Inc. will post 2.13 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine cut shares of Copart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. cut shares of Copart from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $48.00 to $47.00 in a report on Friday, September 21st. Finally, Northcoast Research restated a “neutral” rating on shares of Copart in a report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Copart currently has an average rating of “Hold” and an average price target of $55.14.
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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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