CapWealth Advisors LLC Makes New $4.19 Million Investment in Copart, Inc. $CPRT

Key Points

• CapWealth Advisors acquired 153,565 Copart shares in the third quarter, valued at approximately $4.19 million. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $37.80; targets range from $25 to $43.
• Copart’s latest quarterly revenue rose 2.4% year over year to $1.15 billion, though earnings of $0.35 per share missed estimates. The stock recently traded at $27.57, near its one-year low of $26.74.

CapWealth Advisors LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 153,565 shares of the business services provider's stock, valued at approximately $4,189,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Copart in the second quarter worth about $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in shares of Copart during the 2nd quarter valued at about $488,663,000. Deutsche Bank AG purchased a new stake in shares of Copart during the 2nd quarter valued at about $436,413,000. Bank of America Corp DE bought a new position in shares of Copart in the 2nd quarter worth approximately $191,347,000. Finally, Legal & General Group Plc bought a new position in shares of Copart in the 2nd quarter worth approximately $167,000,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CPRT shares. JPMorgan Chase & Co. upgraded shares of Copart from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $32.00 to $40.00 in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday, September 3rd. Barclays set a $25.00 price objective on shares of Copart and gave the company an "underweight" rating in a research report on Wednesday, August 26th. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane restated an "outperform" rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.80.

Copart Trading Up 1.3%

CPRT traded up $0.34 on Monday, hitting $27.57. 2,510,379 shares of the company's stock traded hands, compared to its average volume of 10,168,641. The company's 50 day simple moving average is $30.61 and its 200-day simple moving average is $31.22. Copart, Inc. has a one year low of $26.74 and a one year high of $45.89. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.32 and a beta of 1.06.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Copart, Inc. will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on 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 in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company's stock.

About Copart

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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