Illinois Municipal Retirement Fund lessened its position in Copart, Inc. (NASDAQ:CPRT – Free Report) by 41.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,990 shares of the business services provider’s stock after selling 58,007 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Copart were worth $2,722,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC purchased a new position in Copart during the 2nd quarter valued at $2,677,000. Sei Investments Co. grew its position in Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on CPRT shares. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.
Copart Price Performance
Shares of NASDAQ CPRT opened at $27.61 on Monday. The business has a fifty day moving average price of $30.72 and a 200 day moving average price of $34.44. The stock has a market capitalization of $25.56 billion, a P/E ratio of 17.15 and a beta of 1.02. Copart, Inc. has a 1-year low of $27.23 and a 1-year high of $50.11.
Copart (NASDAQ:CPRT – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.
About Copart
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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