51,133 Shares in Copart, Inc. $CPRT Acquired by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors acquired 51,133 shares of Copart worth approximately $1.395 million, while institutional investors collectively own 85.78% of the company.
• Copart reported quarterly revenue of $1.15 billion, up 2.4% year over year and slightly above estimates, but earnings per share of $0.35 missed consensus by $0.03.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and a $37.80 target price, despite shares trading near $27.48 and well below their 52-week high of $45.89.

Valeo Financial Advisors LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 51,133 shares of the business services provider's stock, valued at approximately $1,395,000.

A number of other hedge funds have also bought and sold shares of CPRT. Confluence Investment Management LLC increased its holdings in shares of Copart by 44.2% in the 3rd quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider's stock worth $11,527,000 after buying an additional 129,591 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock valued at $11,076,000 after buying an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Copart by 6.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider's stock worth $16,307,000 after acquiring an additional 34,855 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Copart during the 2nd quarter worth $1,298,000. Finally, Mill Capital Management LLC purchased a new position in Copart in the second quarter worth $12,711,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 3.2%

Shares of NASDAQ:CPRT opened at $27.48 on Friday. The stock has a market cap of $25.46 billion, a PE ratio of 17.73, a PEG ratio of 1.30 and a beta of 1.06. The company's fifty day moving average is $30.36 and its 200 day moving average is $31.05. Copart, Inc. has a 52 week low of $26.39 and a 52 week high of $45.89.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that Copart, Inc. will post 1.63 EPS for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction dated 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 owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company's stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of research analyst reports. Barrington Research raised Copart from a "market perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a research note on Friday, September 11th. BNP Paribas Exane reaffirmed an "outperform" rating and set a $43.00 price target (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Barclays set a $25.00 price objective on Copart and gave the stock an "underweight" rating in a report on Wednesday, August 26th. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Finally, Freedom Capital raised Copart to a "strong-buy" rating in a report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.80.

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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