Pinnacle Bancorp Inc. Buys 234 Shares of Copart, Inc. (NASDAQ:CPRT)

Pinnacle Bancorp Inc. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 79.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528 shares of the business services provider’s stock after acquiring an additional 234 shares during the period. Pinnacle Bancorp Inc.’s holdings in Copart were worth $31,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in Copart during the first quarter worth about $28,000. Indiana Trust & Investment Management CO bought a new position in shares of Copart in the first quarter worth approximately $36,000. Fortitude Family Office LLC bought a new position in shares of Copart in the fourth quarter worth approximately $34,000. Trust Co. of Vermont bought a new position in shares of Copart in the fourth quarter worth approximately $38,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Copart in the fourth quarter worth approximately $40,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.1 %

Shares of Copart stock opened at $54.16 on Friday. The company has a market cap of $52.12 billion, a price-to-earnings ratio of 38.14 and a beta of 1.26. The company’s 50 day moving average is $54.27 and its 200 day moving average is $52.59. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts expect that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $51.00.

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.