Bayforest Capital Ltd Makes New $837,000 Investment in Copart, Inc. $CPRT

Key Points

• Bayforest Capital Ltd invested approximately $837,000 in Copart, Inc. by acquiring 17,067 shares during the second quarter.
• Several institutional investors, including Harbour Trust & Investment Management, significantly increased their holdings in Copart, indicating strong institutional interest with 85.78% of the company's stock now owned by such investors.
• Copart reported earnings of $0.41 per share for the last quarter, exceeding analysts' expectations, despite slight revenue misses at $1.13 billion.

Bayforest Capital Ltd purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 17,067 shares of the business services provider's stock, valued at approximately $837,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harbour Trust & Investment Management Co grew its holdings in shares of Copart by 45.7% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 67,057 shares of the business services provider's stock valued at $3,290,000 after purchasing an additional 21,032 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in shares of Copart during the 2nd quarter valued at $262,000. Sequoia Financial Advisors LLC grew its holdings in shares of Copart by 6.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,331 shares of the business services provider's stock valued at $1,243,000 after purchasing an additional 1,510 shares during the last quarter. MGO One Seven LLC grew its holdings in shares of Copart by 412.3% during the 2nd quarter. MGO One Seven LLC now owns 71,288 shares of the business services provider's stock valued at $3,498,000 after purchasing an additional 57,372 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE grew its holdings in shares of Copart by 0.9% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 271,837 shares of the business services provider's stock valued at $13,339,000 after purchasing an additional 2,422 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT stock opened at $44.07 on Tuesday. Copart, Inc. has a one year low of $43.71 and a one year high of $64.38. The company's 50-day moving average is $46.77 and its 200 day moving average is $51.15. The company has a market capitalization of $42.65 billion, a price-to-earnings ratio of 27.54 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CPRT. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Stephens lowered their price target on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Weiss Ratings restated a "hold (c)" rating on shares of Copart in a report on Wednesday, October 8th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, Robert W. Baird decreased their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.68% of the stock is currently owned by insiders.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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