Hennion & Walsh Asset Management Inc. Has $1.02 Million Position in Copart, Inc. (NASDAQ:CPRT)

Hennion & Walsh Asset Management Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 58.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,517 shares of the business services provider’s stock after purchasing an additional 6,428 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Copart were worth $1,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Copart during the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its position in Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in shares of Copart in the first quarter worth $36,000. Fortitude Family Office LLC purchased a new position in shares of Copart in the fourth quarter valued at about $34,000. Finally, Trust Co. of Vermont bought a new position in Copart during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.5 %

Shares of NASDAQ:CPRT opened at $53.35 on Tuesday. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 37.57 and a beta of 1.26. The company has a 50-day moving average price of $54.27 and a 200 day moving average price of $52.66. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

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

About Copart

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.