Copart Inc. (CPRT) Short Interest Down 11.1% in September
Copart Inc. (NASDAQ:CPRT) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 5,183,806 shares, a decrease of 11.1% from the August 31st total of 5,833,580 shares. Based on an average daily volume of 577,407 shares, the short-interest ratio is currently 9.0 days. Currently, 5.6% of the shares of the stock are short sold.
In other news, SVP Robert H. Vannuccini sold 12,577 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $49.96, for a total transaction of $628,346.92. Following the sale, the senior vice president now directly owns 9,703 shares in the company, valued at approximately $484,761.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 65,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $53.53, for a total transaction of $3,479,450.00. Following the sale, the director now owns 15,000 shares in the company, valued at $802,950. The disclosure for this sale can be found here. Company insiders own 19.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Copart by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 307,772 shares of the company’s stock worth $12,548,000 after buying an additional 44,468 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Copart by 371.7% in the first quarter. UBS Asset Management Americas Inc. now owns 586,906 shares of the company’s stock worth $23,928,000 after buying an additional 462,481 shares during the last quarter. Lazard Asset Management LLC raised its position in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock worth $283,924,000 after buying an additional 2,330,220 shares during the last quarter. Ancora Inverness LLC acquired a new position in Copart during the first quarter worth $207,000. Finally, Burgundy Asset Management Ltd. raised its position in Copart by 2.9% in the first quarter. Burgundy Asset Management Ltd. now owns 174,552 shares of the company’s stock worth $7,116,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.
CPRT has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, September 26th. Stephens set a $61.00 target price on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 22nd. Bank of America Corp. upgraded shares of Copart from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $63.00 in a research report on Friday, September 23rd. Jefferies Group restated a “hold” rating on shares of Copart in a research report on Thursday, August 4th. Finally, Barrington Research cut shares of Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.57.
Copart (NASDAQ:CPRT) opened at 53.42 on Wednesday. Copart has a 12 month low of $32.26 and a 12 month high of $54.85. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 24.17 and a beta of 0.95. The stock’s 50 day moving average is $51.90 and its 200-day moving average is $47.65.
Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Copart had a net margin of 21.25% and a return on equity of 31.42%. The business had revenue of $332.70 million for the quarter. During the same quarter last year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that Copart will post $2.42 earnings per share for the current year.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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