Edgestream Partners L.P. Grows Stock Position in Copart, Inc. $CPRT

Key Points

• Edgestream Partners increased its Copart stake by 39.6% in the first quarter, adding 97,067 shares for a total of 342,469 shares valued at approximately $11.37 million. Institutional investors collectively own 85.78% of Copart.
• Copart reported quarterly earnings of $0.43 per share, exceeding the $0.41 analyst consensus, while revenue reached $1.24 billion and rose 2.1% year over year.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $43.50, though targets range from $26 to $45 and ratings include both strong buys and sells.

Edgestream Partners L.P. raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,469 shares of the business services provider's stock after buying an additional 97,067 shares during the quarter. Copart comprises about 0.4% of Edgestream Partners L.P.'s holdings, making the stock its 25th largest position. Edgestream Partners L.P.'s holdings in Copart were worth $11,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new stake in Copart in the 4th quarter worth about $25,000. Cache Advisors LLC bought a new stake in Copart in the 1st quarter valued at about $31,000. Reflection Asset Management purchased a new stake in Copart during the fourth quarter valued at about $34,000. Triumph Capital Management lifted its holdings in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after purchasing an additional 823 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in Copart by 129.2% during the first quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider's stock worth $45,000 after purchasing an additional 761 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Up 0.4%

CPRT stock opened at $30.82 on Thursday. The firm has a 50 day moving average of $30.01 and a 200-day moving average of $33.87. The firm has a market capitalization of $28.53 billion, a P/E ratio of 19.14 and a beta of 1.02. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11.

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

Analysts Set New Price Targets

A number of analysts recently commented on CPRT shares. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note 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. Weiss Ratings cut shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 1st. Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Barclays set a $26.00 price target on Copart and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

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.

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