Russell Investments Group Ltd. Acquires 69,275 Shares of Copart, Inc. (NASDAQ:CPRT)

Russell Investments Group Ltd. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,065,836 shares of the business services provider’s stock after purchasing an additional 69,275 shares during the quarter. Russell Investments Group Ltd.’s holdings in Copart were worth $61,722,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Copart during the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. increased its stake in shares of Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after buying an additional 234 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Copart in the fourth quarter valued at about $34,000. Indiana Trust & Investment Management CO bought a new position in Copart during the 1st quarter worth about $36,000. Finally, Trust Co. of Vermont purchased a new position in Copart during the 4th quarter valued at about $38,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note 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, the company currently has an average rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

Copart stock traded down $0.72 during trading hours on Tuesday, reaching $54.00. The stock had a trading volume of 4,762,742 shares, compared to its average volume of 4,463,512. The company has a market cap of $51.96 billion, a price-to-earnings ratio of 38.42 and a beta of 1.28. The business’s 50 day moving average price is $54.17 and its 200-day moving average price is $53.07. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. Copart’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, sell-side analysts forecast that Copart, Inc. will post 1.43 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.