B. Metzler seel. Sohn & Co. AG Makes New $1.55 Million Investment in Copart, Inc. $CPRT

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 55,104 Copart shares worth approximately $1.55 million during the second quarter. Institutional investors and hedge funds collectively own 85.78% of the company.
• Copart reported quarterly EPS of $0.43, beating estimates by $0.02, while revenue reached $1.24 billion, up 2.1% year over year and ahead of forecasts.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $41.67; CEO Jeffrey Liaw also sold 27,745 shares valued at roughly $846,000.

B. Metzler seel. Sohn & Co. AG acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 55,104 shares of the business services provider's stock, valued at approximately $1,553,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Copart in the second quarter valued at about $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart during the 2nd quarter worth about $488,663,000. Deutsche Bank AG bought a new stake in Copart during the 2nd quarter worth about $436,413,000. Norges Bank acquired a new position in Copart during the 4th quarter valued at about $569,569,000. Finally, Capital World Investors lifted its position in 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 period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $33.80 on Monday. The company has a 50 day moving average price of $29.49 and a two-hundred day moving average price of $32.66. The company has a market capitalization of $31.29 billion, a PE ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, sell-side analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated 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 document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Stephens restated an "equal weight" rating and issued a $35.00 price objective on shares of Copart in a report on Thursday. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Finally, Barclays set a $26.00 target price on shares of Copart and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Copart has a consensus rating of "Hold" and an average target price of $41.67.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source