Maren Capital LLC raised its stake in Copart, Inc. (NASDAQ:CPRT – Free Report) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,207,903 shares of the business services provider’s stock after acquiring an additional 254,563 shares during the period. Copart accounts for about 4.6% of Maren Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Maren Capital LLC’s holdings in Copart were worth $86,439,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Lodestone Wealth Management LLC acquired a new position in Copart in the fourth quarter valued at approximately $25,000. Aventura Private Wealth LLC acquired a new position in Copart in the fourth quarter valued at approximately $33,000. Board of the Pension Protection Fund acquired a new position in Copart in the fourth quarter valued at approximately $35,000. FNY Investment Advisers LLC acquired a new position in Copart in the third quarter valued at approximately $36,000. Finally, Triumph Capital Management boosted its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CPRT has been the subject of a number of research reports. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Robert W. Baird set a $48.00 target price on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.
Copart Stock Performance
CPRT opened at $30.75 on Monday. The business’s 50 day moving average is $32.85 and its 200-day moving average is $36.18. The stock has a market cap of $28.47 billion, a PE ratio of 19.10 and a beta of 1.01. Copart, Inc. has a twelve month low of $29.97 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.
Insider Buying and Selling at Copart
In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.
Copart Company 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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