Copart, Inc. $CPRT Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its Copart stake by 8.2% in the first quarter, buying 429,437 additional shares and bringing its total holding to 5.66 million shares worth about $188 million.
• Copart’s latest quarterly results beat expectations, with EPS of $0.43 versus the $0.41 estimate and revenue of $1.24 billion versus $1.19 billion expected. Revenue rose 2.1% year over year.
• Analyst sentiment is mixed but leans positive overall: Copart has a Moderate Buy consensus and an average price target of $43.50, though recent ratings ranged from strong buy to sell.

Dimensional Fund Advisors LP boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,662,384 shares of the business services provider's stock after purchasing an additional 429,437 shares during the period. Dimensional Fund Advisors LP owned approximately 0.59% of Copart worth $187,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in shares of Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock valued at $931,000 after acquiring an additional 264 shares during the period. Sierra Legacy Group increased its position in Copart by 1.9% during the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider's stock worth $543,000 after acquiring an additional 265 shares during the period. Geneos Wealth Management Inc. increased its position in Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock worth $68,000 after acquiring an additional 266 shares during the period. Brown Miller Wealth Management LLC raised its stake in Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider's stock valued at $286,000 after purchasing an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock valued at $250,000 after purchasing an additional 282 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on CPRT shares. Barclays set a $26.00 price target on shares of Copart and gave the stock an "underweight" rating in a research report on Tuesday. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Weiss Ratings downgraded Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Copart presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Copart Price Performance

Shares of CPRT stock opened at $27.94 on Friday. The stock has a market cap of $25.87 billion, a P/E ratio of 17.35 and a beta of 1.02. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The stock has a fifty day moving average price of $30.17 and a 200 day moving average price of $34.07.

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. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Copart 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.

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