Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,674 shares of the business services provider’s stock after purchasing an additional 248 shares during the quarter. Avestar Capital LLC’s holdings in Copart were worth $1,241,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. WASHINGTON TRUST Co raised its holdings in Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after buying an additional 200 shares during the period. Spinnaker Trust grew its stake in Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after buying an additional 200 shares during the period. Values First Advisors Inc. increased its position in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after acquiring an additional 201 shares in the last quarter. Duncan Williams Asset Management LLC raised its stake in shares of Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after acquiring an additional 203 shares during the period. Finally, Burney Co. lifted its holdings in shares of Copart by 1.4% during the 2nd quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock valued at $812,000 after acquiring an additional 206 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $63.77 on Tuesday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.19. The company has a market capitalization of $61.43 billion, a price-to-earnings ratio of 44.89 and a beta of 1.27. The firm’s fifty day moving average price is $54.07 and its 200 day moving average price is $53.24.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on CPRT. Robert W. Baird cut their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart 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.