SteelPeak Wealth LLC Acquires Shares of 3,762 Copart, Inc. (NASDAQ:CPRT)

SteelPeak Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,762 shares of the business services provider’s stock, valued at approximately $218,000.

Other institutional investors have also modified their holdings of the company. Rathbones Group PLC increased its stake in Copart by 2.9% in the 4th quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock valued at $383,000 after buying an additional 221 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Copart by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock worth $1,232,000 after acquiring an additional 226 shares during the period. Pinnacle Bancorp Inc. raised its holdings in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Wedmont Private Capital lifted its position in Copart by 1.5% in the first quarter. Wedmont Private Capital now owns 16,791 shares of the business services provider’s stock valued at $952,000 after purchasing an additional 243 shares during the period. Finally, Savant Capital LLC increased its position in Copart by 3.8% during the 4th quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock worth $340,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $54.16 on Monday. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The firm has a market capitalization of $52.12 billion, a price-to-earnings ratio of 38.14 and a beta of 1.28. The business’s 50 day simple moving average is $54.27 and its 200-day simple moving average is $52.63.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating 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 last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current year.

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.