Torray Investment Partners LLC Has $7.69 Million Position in Copart, Inc. (NASDAQ:CPRT)

Torray Investment Partners LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 141,965 shares of the business services provider’s stock after acquiring an additional 2,291 shares during the period. Torray Investment Partners LLC’s holdings in Copart were worth $7,689,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. EFG Asset Management Americas Corp. raised its holdings in shares of Copart by 55.3% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 34,784 shares of the business services provider’s stock worth $1,884,000 after buying an additional 12,390 shares in the last quarter. Savant Capital LLC raised its stake in Copart by 3.5% during the second quarter. Savant Capital LLC now owns 7,732 shares of the business services provider’s stock worth $419,000 after acquiring an additional 265 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its holdings in shares of Copart by 50.1% during the second quarter. Sustainable Insight Capital Management LLC now owns 48,700 shares of the business services provider’s stock valued at $2,638,000 after acquiring an additional 16,252 shares during the period. Candriam S.C.A. boosted its stake in shares of Copart by 7.1% in the 2nd quarter. Candriam S.C.A. now owns 51,104 shares of the business services provider’s stock valued at $2,768,000 after purchasing an additional 3,382 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Copart by 5.6% in the 2nd quarter. Private Advisor Group LLC now owns 25,781 shares of the business services provider’s stock worth $1,396,000 after purchasing an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.1 %

CPRT traded down $0.05 during trading on Friday, hitting $49.46. The company’s stock had a trading volume of 7,844,381 shares, compared to its average volume of 4,495,760. The firm’s 50 day moving average price is $52.29 and its two-hundred day moving average price is $53.81. The stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of 34.83 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 released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Copart, Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.00.

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.