London Co. of Virginia Sells 276,654 Shares of Copart, Inc. $CPRT

London Co. of Virginia lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,730,705 shares of the business services provider’s stock after selling 276,654 shares during the period. London Co. of Virginia’s holdings in Copart were worth $90,660,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPRT. State Street Corp grew its position in Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares in the last quarter. Capital World Investors raised its position in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC raised its position in Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after purchasing an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank bought a new stake in Copart during the fourth quarter worth about $569,569,000. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CPRT shares. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays set a $26.00 price target on shares of Copart and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and an average price target of $43.50.

Copart Trading Up 2.7%

CPRT opened at $27.94 on Friday. The company has a market cap of $25.87 billion, a P/E ratio of 17.35 and a beta of 1.02. The business’s 50-day moving average price is $30.17 and its 200-day moving average price is $34.07. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.