Advisor Resource Council Invests $652,000 in Copart, Inc. (NASDAQ:CPRT)

Advisor Resource Council bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, HoldingsChannel reports. The fund bought 12,435 shares of the business services provider’s stock, valued at approximately $652,000.

Several other large investors also recently modified their holdings of the stock. Private Advisor Group LLC boosted its stake in Copart by 1.8% in the first quarter. Private Advisor Group LLC now owns 24,417 shares of the business services provider’s stock valued at $1,414,000 after buying an additional 424 shares in the last quarter. Signaturefd LLC boosted its stake in Copart by 4.0% in the first quarter. Signaturefd LLC now owns 16,831 shares of the business services provider’s stock valued at $975,000 after buying an additional 645 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Copart by 31.2% in the first quarter. Manchester Capital Management LLC now owns 984 shares of the business services provider’s stock valued at $57,000 after buying an additional 234 shares in the last quarter. Empirical Finance LLC boosted its stake in Copart by 3.7% in the first quarter. Empirical Finance LLC now owns 29,795 shares of the business services provider’s stock valued at $1,726,000 after buying an additional 1,054 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Copart by 13.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 120,786 shares of the business services provider’s stock valued at $6,996,000 after buying an additional 14,275 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Up 4.8 %

Shares of CPRT stock opened at $55.44 on Thursday. The business’s 50-day moving average price is $52.31 and its 200-day moving average price is $53.01. Copart, Inc. has a 12 month low of $45.74 and a 12 month high of $58.58. The firm has a market capitalization of $53.41 billion, a price-to-earnings ratio of 39.88 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.