Natixis Advisors L.P. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 19.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,579 shares of the business services provider’s stock after acquiring an additional 8,680 shares during the period. Natixis Advisors L.P.’s holdings in Copart were worth $4,004,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in shares of Copart in the second quarter valued at approximately $29,000. Icon Wealth Partners LLC bought a new position in shares of Copart in the first quarter valued at approximately $34,000. Cordasco Financial Network grew its holdings in Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 297 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in Copart during the second quarter valued at $37,000. Finally, Certified Advisory Corp bought a new position in Copart during the second quarter valued at $38,000. 82.22% of the stock is owned by institutional investors.

Shares of Copart stock traded up $0.78 during trading hours on Friday, reaching $81.66. The company had a trading volume of 26,732 shares, compared to its average volume of 1,321,135. Copart, Inc. has a one year low of $44.61 and a one year high of $83.55. The business has a fifty day simple moving average of $76.70 and a 200 day simple moving average of $69.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. The firm has a market cap of $18.67 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 1.56 and a beta of 0.84.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Copart had a return on equity of 33.84% and a net margin of 28.98%. The firm had revenue of $542.60 million during the quarter, compared to analyst estimates of $517.84 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 2.61 EPS for the current year.

In related news, CEO A Jayson Adair sold 179,461 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $74.54, for a total value of $13,377,022.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William E. Franklin sold 41,007 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the completion of the sale, the insider now owns 58,974 shares in the company, valued at approximately $4,562,818.38. The disclosure for this sale can be found here. Company insiders own 15.99% of the company’s stock.

Several equities analysts have weighed in on CPRT shares. Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a report on Friday, May 17th. JPMorgan Chase & Co. increased their price objective on Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, September 6th. BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird set a $85.00 price objective on Copart and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Barrington Research reissued a “hold” rating on shares of Copart in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Copart presently has a consensus rating of “Hold” and an average price target of $75.21.

Copart 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.

Further Reading: Cost of Debt

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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