Bull Harbor Capital LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT – Free Report) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 20,170 shares of the business services provider’s stock, valued at approximately $670,000.
A number of other large investors have also recently bought and sold shares of the business. State Street Corp increased its stake in Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares during the period. Capital World Investors boosted its stake in shares of Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares during the period. Geode Capital Management LLC boosted its stake in shares of Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Copart during the fourth quarter worth about $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.
Analyst Ratings Changes
CPRT has been the subject of several analyst reports. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus price target of $43.50.
Copart Stock Down 4.1%
NASDAQ CPRT opened at $29.57 on Friday. The stock has a market capitalization of $27.38 billion, a P/E ratio of 18.37 and a beta of 1.02. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a 50-day moving average price of $29.91 and a 200 day moving average price of $33.79.
Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.
Insider Activity at Copart
In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.
Copart 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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