Aurora Investment Counsel Invests $1.83 Million in Copart, Inc. $CPRT

Key Points

• Aurora Investment Counsel initiated a $1.83 million position in Copart, purchasing 65,083 shares during the second quarter. Institutional investors collectively own 85.78% of the company.
• Copart reported quarterly revenue of $1.24 billion and earnings of $0.43 per share, exceeding analyst estimates, while revenue increased 2.1% year over year.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $43.50; CEO Jeffrey Liaw also sold 27,745 shares valued at approximately $846,000.

Aurora Investment Counsel bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,083 shares of the business services provider's stock, valued at approximately $1,835,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Copart in the second quarter valued at approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new position in Copart in the second quarter worth $488,663,000. Deutsche Bank AG acquired a new position in shares of Copart during the second quarter worth $436,413,000. Norges Bank acquired a new position in shares of Copart during the fourth quarter worth $569,569,000. Finally, Capital World Investors lifted its holdings in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Up 7.4%

CPRT stock opened at $33.85 on Thursday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a market cap of $31.34 billion, a P/E ratio of 21.02 and a beta of 1.01. The company's 50-day simple moving average is $29.37 and its 200-day simple moving average is $32.74.

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, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the topic of a number of research analyst reports. Barclays set a $26.00 price target on Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Finally, Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $43.50.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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