Copart, Inc. $CPRT Stock Holdings Lifted by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich increased its Copart stake by 3,464.4% in the third quarter, adding 71,886 shares to hold 73,961 shares valued at about $2.02 million.
• Analysts have a consensus “Moderate Buy” rating on Copart, with an average price target of $37.90.
• Copart reported quarterly EPS of $0.35, missing the $0.38 consensus estimate, while revenue of $1.15 billion exceeded expectations and rose 2.4% year over year.

Bank Julius Baer & Co. Ltd Zurich increased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 3,464.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,961 shares of the business services provider's stock after buying an additional 71,886 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Copart were worth $2,017,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Copart in the 2nd quarter worth $1,908,980,000. Bank of New York Mellon Corp purchased a new position in shares of Copart during the second quarter valued at about $488,663,000. Deutsche Bank AG purchased a new position in shares of Copart during the second quarter valued at about $436,413,000. Bank of America Corp DE grew its position in shares of Copart by 28.7% during the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider's stock valued at $322,256,000 after purchasing an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Copart by 97.9% in the second quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider's stock worth $255,381,000 after purchasing an additional 4,482,226 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPRT. Barclays set a $25.00 price target on Copart and gave the company an "underweight" rating in a research note on Wednesday, August 26th. Robert W. Baird cut their target price on Copart from $42.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, September 11th. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. BNP Paribas Exane reissued an "outperform" rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Finally, Barrington Research upgraded Copart from a "market perform" rating to an "outperform" rating and set a $40.00 price target for the company in a report on Friday, September 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued 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 target price of $37.90.

Insider Activity

In other news, Director Diane Morefield sold 20,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the transaction, the director owned 50,000 shares in the company, valued at $1,383,000. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.30% of the stock is currently owned by company insiders.

Copart Trading Down 2.7%

NASDAQ CPRT opened at $31.06 on Wednesday. The firm's fifty day simple moving average is $29.48 and its two-hundred day simple moving average is $32.35. The firm has a market capitalization of $28.77 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.56 and a beta of 1.01. Copart, Inc. has a 12-month low of $25.72 and a 12-month high of $43.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, sell-side analysts predict that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.

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