Lipe & Dalton purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) during the third quarter, Holdings Channel.com reports. The fund purchased 25,482 shares of the business services provider’s stock, valued at approximately $695,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. William Allan Corp raised its position in shares of Copart by 26.4% in the third quarter. William Allan Corp now owns 37,460 shares of the business services provider’s stock worth $1,022,000 after acquiring an additional 7,823 shares during the period. Mather Group LLC. boosted its stake in shares of Copart by 229.7% during the 3rd quarter. Mather Group LLC. now owns 25,643 shares of the business services provider’s stock worth $700,000 after acquiring an additional 17,866 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Copart by 4,161.8% during the 3rd quarter. Fortitude Family Office LLC now owns 4,347 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 4,245 shares during the period. Union Savings Bank grew its position in shares of Copart by 5,921.2% during the 3rd quarter. Union Savings Bank now owns 6,262 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 6,158 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in shares of Copart by 71.9% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 43,247 shares of the business services provider’s stock valued at $1,180,000 after purchasing an additional 18,083 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Insider Buying and Selling at Copart
In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by company insiders.
Copart Stock Performance
Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results 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 company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. raised Copart from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research report on Thursday, September 3rd. Freedom Broker dropped their price objective on Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Stephens restated an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Two investment 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.80.
Check Out Our Latest Analysis on Copart
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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