HighPoint Advisor Group LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

HighPoint Advisor Group LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,101 shares of the business services provider’s stock, valued at approximately $495,000.

A number of other institutional investors have also recently modified their holdings of CPRT. Kestra Advisory Services LLC lifted its position in shares of Copart by 166.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 36,416 shares of the business services provider’s stock valued at $1,569,000 after acquiring an additional 22,771 shares during the period. Aigen Investment Management LP bought a new stake in shares of Copart during the 3rd quarter worth $371,000. CI Investments Inc. lifted its position in shares of Copart by 95.4% during the 3rd quarter. CI Investments Inc. now owns 2,468 shares of the business services provider’s stock worth $106,000 after buying an additional 1,205 shares during the last quarter. Rathbones Group PLC lifted its position in shares of Copart by 100.0% during the 3rd quarter. Rathbones Group PLC now owns 7,600 shares of the business services provider’s stock worth $327,000 after buying an additional 3,800 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Copart by 3,205.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,628 shares of the business services provider’s stock worth $199,000 after buying an additional 4,488 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Copart currently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Stock Up 0.9 %

Shares of CPRT opened at $54.86 on Thursday. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The business has a 50-day simple moving average of $54.24 and a two-hundred day simple moving average of $52.31. The stock has a market cap of $52.79 billion, a PE ratio of 38.63 and a beta of 1.26.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.23% of the company’s stock.

Copart Company Profile

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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.