Lombard Odier Asset Management Europe Ltd Acquires Shares of 32,874 Copart, Inc. (NASDAQ:CPRT)

Lombard Odier Asset Management Europe Ltd acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 32,874 shares of the business services provider’s stock, valued at approximately $1,780,000.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Bank of New York Mellon Corp increased its position in shares of Copart by 116.1% during the first quarter. Bank of New York Mellon Corp now owns 14,808,663 shares of the business services provider’s stock worth $857,718,000 after acquiring an additional 7,956,043 shares during the last quarter. TD Asset Management Inc increased its position in shares of Copart by 258.1% during the fourth quarter. TD Asset Management Inc now owns 3,392,855 shares of the business services provider’s stock worth $166,250,000 after acquiring an additional 2,445,440 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Copart during the second quarter worth about $109,382,000. Price T Rowe Associates Inc. MD increased its position in shares of Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after acquiring an additional 1,500,466 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in Copart by 250.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,773,555 shares of the business services provider’s stock worth $86,904,000 after purchasing an additional 1,267,130 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Up 0.5 %

Shares of CPRT stock opened at $51.69 on Tuesday. The business has a 50 day moving average of $51.41 and a two-hundred day moving average of $53.68. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The company has a market cap of $49.74 billion, a P/E ratio of 36.40 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

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.