54,800 Shares in Copart, Inc. $CPRT Bought by Barbara Oil Co.

Key Points

• Barbara Oil Co. bought 54,800 Copart shares in the second quarter, valued at approximately $1.585 million. Hedge funds and other institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed, with Copart holding a consensus “Hold” rating and an average price target of $41.67; ratings range from strong buy to strong sell.
• Copart’s latest quarterly results exceeded expectations, with earnings of $0.43 per share versus $0.41 forecast and revenue of $1.24 billion. CEO Jeffrey Liaw subsequently sold 27,745 shares at an average price of $30.49.

Barbara Oil Co. purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 54,800 shares of the business services provider's stock, valued at approximately $1,585,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart in the second quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC acquired a new stake in Copart in the first quarter valued at approximately $31,000. Compass Financial Management LLC acquired a new position in shares of Copart during the second quarter worth $33,000. Finally, Reflection Asset Management purchased a new position in shares of Copart in the fourth quarter valued at $34,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Stephens reissued an "equal weight" rating and issued a $35.00 price target on shares of Copart in a report on Thursday. Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Freedom Capital upgraded Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Barclays set a $26.00 price objective on Copart and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $41.67.

Copart Stock Performance

Copart stock opened at $33.80 on Monday. The company has a 50-day simple moving average of $29.49 and a 200-day simple moving average of $32.66. The firm has a market capitalization of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS 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 analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm'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 approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.60% of the company's stock.

About Copart

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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