Ashford Capital Management Inc. Has $2.35 Million Stock Holdings in Copart, Inc. $CPRT

Ashford Capital Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 54.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,879 shares of the business services provider’s stock after selling 84,110 shares during the period. Ashford Capital Management Inc.’s holdings in Copart were worth $2,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors lifted its stake in Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC lifted its stake in Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Finally, Norges Bank acquired a new stake in Copart in the fourth quarter valued at approximately $569,569,000. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Copart stock opened at $29.79 on Tuesday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a 50 day moving average price of $30.10 and a two-hundred day moving average price of $33.98. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 18.50 and a beta of 1.02.

Copart (NASDAQ:CPRTGet Free Report) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CPRT shares. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Get Our Latest Stock Analysis on Copart

Copart Company Profile

(Free Report)

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

Further Reading

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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