Focus Partners Advisor Solutions LLC Makes New $1.30 Million Investment in Copart, Inc. $CPRT

Key Points

• Focus Partners Advisor Solutions purchased 46,043 Copart shares worth approximately $1.30 million in the second quarter. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell; Copart has a consensus “Hold” rating and an average price target of $43.50.
• Copart exceeded quarterly expectations, reporting $0.43 in EPS versus $0.41 expected and $1.24 billion in revenue, up 2.1% year over year. CEO Jeffrey Liaw separately sold 27,745 shares valued at roughly $846,000.

Focus Partners Advisor Solutions LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 46,043 shares of the business services provider's stock, valued at approximately $1,298,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Copart in the fourth quarter worth $569,569,000. Capital World Investors grew its holdings in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. Capital International Investors acquired a new position in Copart during the 4th quarter worth $195,637,000. Deutsche Bank AG increased its position in shares of Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider's stock worth $389,764,000 after purchasing an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CPRT. Freedom Capital raised shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Barclays set a $26.00 price objective on Copart and gave the company an "underweight" rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Copart has a consensus rating of "Hold" and an average target price of $43.50.

Copart Stock Performance

Shares of Copart stock opened at $31.61 on Monday. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 19.63 and a beta of 1.01. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11. The business's 50 day simple moving average is $29.30 and its 200-day simple moving average is $32.91.

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

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was 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. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.60% of the company's stock.

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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