Harbour Trust & Investment Management Co Buys 21,032 Shares of Copart, Inc. $CPRT

Key Points

• Harbour Trust & Investment Management Co significantly increased its stake in Copart, Inc. by 45.7%, acquiring an additional 21,032 shares during the second quarter, bringing its total holdings to 67,057 shares valued at approximately $3.29 million.
• Multiple institutional investors, including Nuveen LLC and Fiera Capital Corp, have recently added to their positions in Copart, indicating strong institutional interest with over 85% of the stock owned by such investors.
• Certain analysts have upgraded Copart, with HSBC Global Research raising its rating to "strong-buy" and setting a price target of $62, while the consensus price target stands at $54.50 amid generally favorable earnings reports.

Harbour Trust & Investment Management Co lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 45.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,057 shares of the business services provider's stock after purchasing an additional 21,032 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Copart were worth $3,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Nuveen LLC acquired a new position in shares of Copart in the first quarter valued at $267,723,000. Fiera Capital Corp grew its stake in Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after buying an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. grew its stake in Copart by 56.4% during the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider's stock worth $314,415,000 after buying an additional 2,310,067 shares in the last quarter. Amundi lifted its holdings in shares of Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, HSBC set a $62.00 price target on shares of Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

Copart Stock Performance

Shares of CPRT stock opened at $44.07 on Tuesday. Copart, Inc. has a fifty-two week low of $43.71 and a fifty-two week high of $64.38. The stock has a 50 day moving average price of $46.77 and a two-hundred day moving average price of $51.15. The company has a market capitalization of $42.65 billion, a P/E ratio of 27.54 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.68% of the company's stock.

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.

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