State of Alaska Department of Revenue Has $6.65 Million Stake in Copart, Inc. (NASDAQ:CPRT)

State of Alaska Department of Revenue reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 114,873 shares of the business services provider’s stock after selling 2,090 shares during the quarter. State of Alaska Department of Revenue’s holdings in Copart were worth $6,652,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CPRT. Rise Advisors LLC acquired a new stake in shares of Copart in the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. increased its position in Copart by 79.6% in 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 during the period. Fortitude Family Office LLC acquired a new stake in Copart in the fourth quarter worth about $34,000. Indiana Trust & Investment Management CO acquired a new position in Copart during the 1st quarter valued at about $36,000. Finally, Trust Co. of Vermont acquired a new position in Copart during the 4th quarter valued at about $38,000. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Trading Down 1.5 %

NASDAQ:CPRT opened at $53.89 on Thursday. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The firm has a market capitalization of $51.86 billion, a price-to-earnings ratio of 37.95 and a beta of 1.27. The business’s 50-day moving average price is $54.26 and its two-hundred day moving average price is $52.71.

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

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.