Harfst & Associates Inc. Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Harfst & Associates Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 41.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,018 shares of the business services provider’s stock after selling 4,348 shares during the quarter. Harfst & Associates Inc.’s holdings in Copart were worth $315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Copart in the 1st quarter worth approximately $28,000. Optimum Investment Advisors boosted its stake in Copart by 141.5% during the third 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 period. Pinnacle Bancorp Inc. increased its position in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of 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. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

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 on the stock in a report on Thursday, September 5th.

Copart Stock Up 0.4 %

CPRT traded up $0.19 during trading hours on Friday, reaching $53.88. 8,538,483 shares of the company’s stock traded hands, compared to its average volume of 4,504,438. The firm has a 50-day moving average price of $52.22 and a 200 day moving average price of $53.31. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The firm has a market capitalization of $51.85 billion, a PE ratio of 37.94 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its 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). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart Company 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.