Armstrong Advisory Group Inc. Lowers Stock Position in Copart, Inc. (NASDAQ:CPRT)

Armstrong Advisory Group Inc. reduced its position in Copart, Inc. (NASDAQ:CPRT) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 142,734 shares of the business services provider’s stock after selling 2,338 shares during the quarter. Copart comprises about 0.6% of Armstrong Advisory Group Inc.’s investment portfolio, making the stock its 27th biggest position. Armstrong Advisory Group Inc.’s holdings in Copart were worth $7,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Inspire Investing LLC raised its holdings in Copart by 4.2% in the third quarter. Inspire Investing LLC now owns 22,601 shares of the business services provider’s stock valued at $1,184,000 after buying an additional 921 shares during the period. Atwater Malick LLC raised its position in Copart by 31.1% in the third quarter. Atwater Malick LLC now owns 38,639 shares of the business services provider’s stock valued at $2,025,000 after purchasing an additional 9,159 shares during the period. Lion Street Advisors LLC acquired a new position in Copart during the 3rd quarter worth approximately $234,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Copart by 209.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,234 shares of the business services provider’s stock valued at $327,000 after acquiring an additional 4,219 shares in the last quarter. Finally, JGP Wealth Management LLC lifted its position in shares of Copart by 2.6% during the third quarter. JGP Wealth Management LLC now owns 19,924 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 504 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 0.6 %

Copart stock opened at $55.92 on Monday. The stock has a 50 day moving average of $51.79 and a 200-day moving average of $53.37. The stock has a market cap of $53.81 billion, a P/E ratio of 39.38 and a beta of 1.27. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.