First Horizon Advisors Inc. Has $577,000 Stock Position in Copart, Inc. (NASDAQ:CPRT)

First Horizon Advisors Inc. raised its position in Copart, Inc. (NASDAQ:CPRT) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,007 shares of the business services provider’s stock after buying an additional 1,081 shares during the period. First Horizon Advisors Inc.’s holdings in Copart were worth $577,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CPRT. Advisors Asset Management Inc. grew its position in Copart by 25.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 15,856 shares of the business services provider’s stock worth $831,000 after acquiring an additional 3,177 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Copart during the third quarter worth $15,196,000. PNC Financial Services Group Inc. increased its stake in shares of Copart by 10.4% in the third quarter. PNC Financial Services Group Inc. now owns 242,705 shares of the business services provider’s stock valued at $12,718,000 after buying an additional 22,959 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Copart in the third quarter valued at about $3,229,000. Finally, Fifth Third Wealth Advisors LLC lifted its position in Copart by 10.0% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 9,018 shares of the business services provider’s stock worth $473,000 after buying an additional 817 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Trading Up 2.8 %

Shares of NASDAQ CPRT opened at $56.97 on Friday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58. The firm’s 50-day moving average is $53.54 and its 200-day moving average is $53.16. The firm has a market capitalization of $54.88 billion, a PE ratio of 40.98 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CPRT shares. Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday.

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.