Copart, Inc. (NASDAQ:CPRT) Short Interest Update

Copart, Inc. (NASDAQ:CPRT) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 13,430,000 shares, an increase of 14.3% from the September 30th total of 11,750,000 shares. Based on an average daily volume of 4,450,000 shares, the days-to-cover ratio is presently 3.0 days.

Copart Trading Down 0.9 %

Shares of CPRT traded down $0.45 during trading hours on Thursday, hitting $51.85. The company had a trading volume of 350,706 shares, compared to its average volume of 4,421,074. The company has a market capitalization of $49.95 billion, a PE ratio of 36.83 and a beta of 1.27. Copart has a one year low of $42.83 and a one year high of $58.58. The company’s fifty day moving average price is $52.30 and its two-hundred day moving average price is $53.04.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $0.34 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Copart will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its stake in Copart by 5.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,672 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 277 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in shares of Copart by 27.1% during the third quarter. Harvest Portfolios Group Inc. now owns 20,638 shares of the business services provider’s stock valued at $1,081,000 after buying an additional 4,397 shares during the last quarter. One Plus One Wealth Management LLC acquired a new position in shares of Copart in the 3rd quarter valued at $251,000. Marks Group Wealth Management Inc raised its stake in Copart by 3.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 187,494 shares of the business services provider’s stock worth $9,825,000 after acquiring an additional 6,148 shares during the last quarter. Finally, Hixon Zuercher LLC lifted its position in Copart by 23.4% during the 3rd quarter. Hixon Zuercher LLC now owns 72,119 shares of the business services provider’s stock worth $3,779,000 after acquiring an additional 13,696 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

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.