Cumberland Partners Ltd Acquires New Position in Copart, Inc. (NASDAQ:CPRT)

Cumberland Partners Ltd bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,500 shares of the business services provider’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new position in shares of Copart during the first quarter worth $28,000. Pinnacle Bancorp Inc. increased its holdings in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in Copart in the first quarter valued at about $36,000. Fortitude Family Office LLC acquired a new stake in shares of Copart during the fourth quarter valued at about $34,000. Finally, Pittenger & Anderson Inc. grew its holdings in shares of Copart by 125.8% during the first quarter. Pittenger & Anderson Inc. now owns 718 shares of the business services provider’s stock worth $42,000 after purchasing an additional 400 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Stock Up 0.1 %

CPRT traded up $0.06 during midday trading on Friday, hitting $51.71. 4,743,220 shares of the company were exchanged, compared to its average volume of 5,044,719. The firm’s 50 day moving average price is $53.96 and its 200-day moving average price is $53.11. 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 $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion for 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%. The firm’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 earnings per share. On average, sell-side analysts predict that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

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.