Copart, Inc. (NASDAQ:CPRT) Position Boosted by Avestar Capital LLC

Avestar Capital LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,674 shares of the business services provider’s stock after purchasing an additional 248 shares during the period. Avestar Capital LLC’s holdings in Copart were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Optimum Investment Advisors lifted its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in Copart during the third quarter worth about $29,000. Crewe Advisors LLC boosted its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $63.77 on Tuesday. The stock’s 50 day moving average price is $54.07 and its 200 day moving average price is $53.24. The stock has a market cap of $61.43 billion, a P/E ratio of 44.89 and a beta of 1.27. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.19.

Copart (NASDAQ:CPRT) last issued 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). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Equities analysts anticipate that Copart, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report 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.