Mirae Asset Global Investments Co. Ltd. purchased a new stake in Copart, Inc. (NASDAQ:CPRT – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 634,292 shares of the business services provider’s stock, valued at approximately $17,303,000.
Several other large investors also recently made changes to their positions in the business. Alpha Family Trust raised its holdings in shares of Copart by 3.4% in the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock worth $366,000 after purchasing an additional 360 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Copart by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after purchasing an additional 369 shares during the last quarter. North Dakota State Investment Board lifted its stake in Copart by 1.4% during the third quarter. North Dakota State Investment Board now owns 26,664 shares of the business services provider’s stock valued at $727,000 after purchasing an additional 370 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Copart by 1.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,183 shares of the business services provider’s stock worth $660,000 after buying an additional 447 shares in the last quarter. Finally, Sigma Investment Counselors Inc. boosted its holdings in Copart by 0.9% during the third quarter. Sigma Investment Counselors Inc. now owns 50,691 shares of the business services provider’s stock worth $1,383,000 after buying an additional 467 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.
Wall Street Analysts Forecast Growth
CPRT has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research report on Tuesday, October 27th. HSBC downgraded Copart from a “buy” rating to a “hold” rating and cut their price objective for the company from $46.00 to $36.00 in a research report on Wednesday, September 16th. Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Barrington Research upgraded Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, September 11th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.90.
Get Our Latest Research Report on CPRT
Insider Buying and Selling
In related news, Director Diane Morefield sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.30% of the company’s stock.
Copart Price Performance
Shares of CPRT opened at $31.06 on Wednesday. Copart, Inc. has a one year low of $25.72 and a one year high of $43.38. The company has a 50-day moving average of $29.48 and a two-hundred day moving average of $32.35. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.56 and a beta of 1.01.
Copart (NASDAQ:CPRT – Get Free Report) last released its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current year.
Copart Profile
Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.
Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.
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