Quantum Capital Management LLC NJ recently reduced its stake in Copart, Inc. by 10.0% during the second quarter, according to the company’s disclosure with the SEC. The firm now owns 912,839 shares of Copart, making it the second-largest holding in its portfolio. This move by Quantum Capital Management LLC NJ suggests that they have adjusted their investment strategy in the business services provider.
Additionally, other institutional investors have also made changes to their positions in Copart. Larson Financial Group LLC increased its position by 4.7% during the second quarter, while First National Bank of Hutchinson boosted its position by 1.3%. Desjardins Global Asset Management Inc. and Veritable L.P. have also grown their stakes in the company. Overall, institutional investors own 79.26% of Copart’s stock.
The stock has shown promising performance, with a one-year high of $51.53. Currently trading at $50.27, Copart has a market capitalization of $48.27 billion. It has a price-to-earnings ratio of 36.93 and a beta of 1.19. The stock’s fifty-day moving average price is $45.05 and its 200-day moving average price is $46.49.
Copart recently announced its quarterly earnings data for the third quarter and exceeded analysts’ consensus estimates. The business services provider reported earnings per share of $0.34, surpassing expectations by $0.02. It also generated $1.02 billion in revenue, beating analyst estimates of $987.90 million. Copart’s net margin stands at 31.99%, and it has a return on equity of 22.46%.
Several brokerages have commented on Copart’s stock, with JPMorgan Chase & Co. increasing its price objective from $39.50 to $41.00. StockNews.com has upgraded Copart from a “hold” rating to a “buy” rating. Argus initiated coverage on the stock and assigned it a “buy” rating and a $53.00 price objective. Robert W. Baird also raised their target price to $48.00 with an “outperform” rating.
These predictions indicate a positive outlook for Copart’s future. With its strong earnings performance and favorable ratings from analysts, the stock is expected to continue its upward trajectory. Stay updated on Copart’s stock analysis and insider transactions to make informed investment decisions.
1. What is Copart’s market capitalization?
Copart currently has a market capitalization of $48.27 billion.
2. What were Copart’s quarterly earnings for the third quarter?
Copart reported earnings per share of $0.34 for the third quarter, surpassing analysts’ consensus estimates.
3. What are analysts predicting for Copart’s future earnings?
Sell-side analysts predict that Copart will post 1.42 earnings per share for the current year.
4. What are the recent price target updates for Copart?
Several brokerages have updated their price targets for Copart, with the average target price being $44.40. JPMorgan Chase & Co. raised their price objective from $39.50 to $41.00, while Robert W. Baird increased their target price to $48.00 with an “outperform” rating.
5. What is the current ownership of institutional investors in Copart?
Institutional investors own 79.26% of Copart’s stock. Quantum Capital Management LLC NJ significantly reduced its stake in the company by 10.0% during the second quarter.