Natixis Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Natixis lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 98.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,488 shares of the business services provider’s stock after selling 417,133 shares during the period. Natixis’ holdings in Copart were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Copart in the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its holdings in Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in Copart in the first quarter worth $36,000. Trust Co. of Vermont acquired a new position in shares of Copart during the fourth quarter worth $38,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Copart during the 4th quarter valued at $40,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Copart currently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Trading Up 1.2 %

Shares of Copart stock opened at $51.05 on Friday. The firm’s 50 day simple moving average is $53.64 and its two-hundred day simple moving average is $53.27. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 35.95 and a beta of 1.27. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.13 billion for 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%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts predict 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.