GoalVest Advisory LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,218 shares of the business services provider’s stock, valued at approximately $552,000.
Several other institutional investors also recently modified their holdings of CPRT. Global Wealth Strategies & Associates bought a new stake in shares of Copart during the 3rd quarter valued at $42,000. Versant Capital Management Inc grew its stake in shares of Copart by 831.7% during the third quarter. Versant Capital Management Inc now owns 8,823 shares of the business services provider’s stock worth $241,000 after purchasing an additional 7,876 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Copart during the third quarter worth $222,000. Confluence Investment Management LLC increased its holdings in Copart by 44.2% in the third quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider’s stock valued at $11,527,000 after purchasing an additional 129,591 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Copart by 122.9% in the second quarter. QRG Capital Management Inc. now owns 268,812 shares of the business services provider’s stock valued at $7,578,000 after purchasing an additional 148,221 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on CPRT. BNP Paribas Exane restated an “outperform” rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a research note on Thursday, September 3rd. Barclays set a $25.00 target price on shares of Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Finally, Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Moderate Buy” and an average target price of $37.80.
Insiders Place Their Bets
In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.
Copart Trading Up 0.4%
Shares of NASDAQ CPRT traded up $0.11 during mid-day trading on Friday, reaching $27.40. 2,451,862 shares of the company’s stock were exchanged, compared to its average volume of 10,177,264. Copart, Inc. has a twelve month low of $26.74 and a twelve month high of $45.89. The firm has a market capitalization of $25.39 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.32 and a beta of 1.06. The business has a fifty day simple moving average of $30.62 and a 200 day simple moving average of $31.27.
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Copart’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that Copart, Inc. will post 1.65 earnings per share for the current fiscal year.
Copart Profile
Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.
Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.
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