Equitable Trust Co. Makes New $1.71 Million Investment in Copart, Inc. $CPRT

Key Points

• Equitable Trust Co. opened a new position in Copart during the first quarter, buying 51,621 shares worth about $1.71 million.
• Institutional ownership in Copart remains high at 85.78%, while CEO Jeffrey Liaw recently sold 26,213 shares in a transaction worth about $869,747.
• Copart reported better-than-expected quarterly results, posting EPS of $0.43 versus $0.41 expected and revenue of $1.24 billion, while analysts maintain a Moderate Buy consensus with an average target price of $44.50.

Equitable Trust Co. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 51,621 shares of the business services provider's stock, valued at approximately $1,714,000.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Lodestone Wealth Management LLC bought a new position in Copart in the fourth quarter worth $25,000. FNY Investment Advisers LLC acquired a new stake in Copart during the third quarter worth $36,000. Aventura Private Wealth LLC bought a new stake in Copart in the 4th quarter valued at $33,000. Reflection Asset Management bought a new stake in Copart in the 4th quarter valued at $34,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of Copart in the 4th quarter valued at $35,000. 85.78% of the stock is currently owned by institutional investors.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

Copart stock opened at $27.51 on Friday. The firm has a market capitalization of $25.47 billion, a P/E ratio of 17.09 and a beta of 1.02. The stock has a fifty day moving average price of $31.31 and a two-hundred day moving average price of $34.88. Copart, Inc. has a 52-week low of $27.49 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 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 company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the topic of several recent research reports. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Weiss Ratings lowered shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $44.50.

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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