Allied Investment Advisors LLC Makes New Investment in Copart, Inc. $CPRT

Key Points

• Allied Investment Advisors acquired 101,527 Copart shares in the third quarter, valued at approximately $2.77 million. Institutional investors collectively own 85.78% of the company.
• Analysts maintain a generally positive outlook, with Copart receiving a consensus rating of “Moderate Buy” and an average price target of $37.80.
• Copart’s shares opened at $26.37, near their one-year low of $26.17. The company beat revenue expectations with $1.15 billion in quarterly revenue, but its $0.35 EPS missed the $0.38 consensus estimate.

Allied Investment Advisors LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,527 shares of the business services provider's stock, valued at approximately $2,770,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signal Advisors Wealth LLC boosted its position in shares of Copart by 4.2% in the 3rd quarter. Signal Advisors Wealth LLC now owns 285,028 shares of the business services provider's stock worth $7,776,000 after purchasing an additional 11,470 shares during the last quarter. Downshift Financial LLC grew its stake in shares of Copart by 558.1% during the third quarter. Downshift Financial LLC now owns 1,461 shares of the business services provider's stock worth $40,000 after purchasing an additional 1,239 shares during the period. Seilern Investment Management Ltd increased its holdings in Copart by 12.9% in the third quarter. Seilern Investment Management Ltd now owns 1,188,547 shares of the business services provider's stock valued at $32,424,000 after purchasing an additional 135,850 shares during the last quarter. McCollum Christoferson Group LLC bought a new stake in Copart in the third quarter valued at about $412,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in Copart by 1,102.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 184,823 shares of the business services provider's stock valued at $5,042,000 after purchasing an additional 169,449 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. BNP Paribas Exane reissued an "outperform" rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a report on Thursday, September 3rd. Robert W. Baird decreased their price objective on shares of Copart from $42.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, September 11th. Finally, Freedom Broker lowered their target price on shares of Copart from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.80.

Insider Buying and Selling at Copart

In other 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 value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Trading Down 0.4%

Copart stock opened at $26.37 on Wednesday. The company has a fifty day simple moving average of $30.21 and a 200 day simple moving average of $30.92. The company has a market cap of $24.43 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06. Copart, Inc. has a 1-year low of $26.17 and a 1-year high of $45.89.

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 (EPS) 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 company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The business's revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Copart, Inc. will post 1.63 EPS for the current year.

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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