HighTower Advisors LLC Acquires 14,085 Shares of Copart, Inc. (CPRT)
HighTower Advisors LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 81.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,432 shares of the business services provider’s stock after acquiring an additional 14,085 shares during the quarter. HighTower Advisors LLC’s holdings in Copart were worth $1,004,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Winslow Evans & Crocker Inc. acquired a new position in Copart during the second quarter worth about $100,000. Parallel Advisors LLC raised its stake in Copart by 2.6% during the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after purchasing an additional 111 shares during the period. Smithfield Trust Co. raised its stake in Copart by 104.8% during the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,749 shares during the period. Huntington National Bank raised its stake in Copart by 136.5% during the second quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock worth $179,000 after purchasing an additional 3,249 shares during the period. Finally, CAPROCK Group Inc. purchased a new position in Copart during the second quarter worth about $200,000. Hedge funds and other institutional investors own 79.59% of the company’s stock.
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A number of equities analysts have commented on CPRT shares. CJS Securities reaffirmed an “outperform” rating and set a $42.00 target price on shares of Copart in a research note on Thursday, October 5th. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Robert W. Baird lifted their target price on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 target price on shares of Copart in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.33.
In other news, Director James E. Meeks sold 160,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at approximately $120,155. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Vincent W. Mitz sold 200,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the transaction, the president now owns 47,660 shares in the company, valued at $1,635,691.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.
Copart, Inc. (CPRT) opened at 36.11 on Friday. The firm’s 50-day moving average is $33.47 and its 200-day moving average is $33.98. The stock has a market capitalization of $8.33 billion, a P/E ratio of 21.75 and a beta of 1.19. Copart, Inc. has a 52 week low of $25.37 and a 52 week high of $36.24.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The company had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that Copart, Inc. will post $1.43 EPS for the current fiscal year.
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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