Miracle Mile Advisors LLC Acquires New Position in Copart, Inc. (NASDAQ:CPRT)

Miracle Mile Advisors LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,219 shares of the business services provider’s stock, valued at approximately $302,000.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Copart by 78.4% in the third quarter. AQR Capital Management LLC now owns 420,259 shares of the business services provider’s stock valued at $18,109,000 after purchasing an additional 184,665 shares during the period. Glenmede Trust Co. NA raised its stake in Copart by 92.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 21,772 shares of the business services provider’s stock valued at $938,000 after acquiring an additional 10,469 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Copart by 109.8% in the third quarter. Axxcess Wealth Management LLC now owns 7,586 shares of the business services provider’s stock worth $327,000 after purchasing an additional 3,970 shares in the last quarter. Ameriprise Financial Inc. grew its position in Copart by 105.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,250,056 shares of the business services provider’s stock valued at $97,000,000 after buying an additional 1,152,670 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in Copart by 61.4% during the 3rd quarter. Alps Advisors Inc. now owns 7,494 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 2,852 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Price Performance

NASDAQ CPRT opened at $53.35 on Tuesday. The firm has a market capitalization of $51.34 billion, a price-to-earnings ratio of 37.57 and a beta of 1.28. The company has a 50 day simple moving average of $54.27 and a 200-day simple moving average of $52.66. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

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