Jackson Hill Advisors LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 41.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 339,000 shares of the business services provider’s stock after purchasing an additional 100,000 shares during the period. Copart accounts for 6.2% of Jackson Hill Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Jackson Hill Advisors LLC’s holdings in Copart were worth $13,272,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CPRT. Lodestone Wealth Management LLC acquired a new position in Copart during the fourth quarter worth $25,000. Cornerstone Planning Group LLC increased its holdings in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Copart in the fourth quarter valued at $33,000. Board of the Pension Protection Fund acquired a new position in shares of Copart in the fourth quarter valued at $35,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Copart in the third quarter valued at $36,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on CPRT. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Barclays reiterated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.50.
Insider Activity
In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.60% of the company’s stock.
Copart Stock Performance
Shares of Copart stock opened at $30.35 on Thursday. The firm has a 50-day moving average of $33.12 and a 200-day moving average of $36.67. The stock has a market cap of $28.10 billion, a PE ratio of 18.85 and a beta of 1.00. Copart, Inc. has a 52-week low of $29.97 and a 52-week high of $51.01.
Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.
Copart Company Profile
Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.
Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.
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