Anthracite Investment Company Inc. Acquires Shares of 45,000 Copart, Inc. (NASDAQ:CPRT)

Anthracite Investment Company Inc. acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the third quarter, Holdings Channel.com reports. The firm acquired 45,000 shares of the business services provider’s stock, valued at approximately $2,358,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Edgestream Partners L.P. purchased a new position in shares of Copart during the 1st quarter valued at approximately $644,000. O Shaughnessy Asset Management LLC increased its stake in shares of Copart by 8.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 72,083 shares of the business services provider’s stock valued at $4,175,000 after purchasing an additional 5,445 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Copart by 10.3% in the 1st quarter. Lake Street Advisors Group LLC now owns 9,923 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 930 shares in the last quarter. Pitcairn Co. raised its holdings in Copart by 24.5% in the 1st quarter. Pitcairn Co. now owns 10,889 shares of the business services provider’s stock worth $631,000 after purchasing an additional 2,143 shares during the period. Finally, Fayez Sarofim & Co purchased a new position in Copart during the first quarter worth approximately $216,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Price Performance

NASDAQ CPRT opened at $56.52 on Wednesday. The stock’s 50 day simple moving average is $53.27 and its 200-day simple moving average is $53.12. The company has a market cap of $54.45 billion, a PE ratio of 40.66 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.54 EPS 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.