Healthcare of Ontario Pension Plan Trust Fund Acquires 819,186 Shares of Copart, Inc. $CPRT

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Copart stake by 247% in the first quarter, purchasing 819,186 additional shares. It now owns 1.15 million shares valued at approximately $38.2 million, while institutional investors collectively hold 85.78% of the company.
• Copart reported quarterly revenue of $1.24 billion and earnings of $0.43 per share, surpassing analyst estimates of $1.19 billion and $0.41, respectively. Revenue rose 2.1% year over year, with a 33.48% net margin.
• The stock opened at $27.94, near its 12-month low of $26.81 and below its 50- and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $43.50, despite ratings ranging from strong buy to sell.

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 247.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,150,831 shares of the business services provider's stock after buying an additional 819,186 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Copart worth $38,208,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC bought a new stake in Copart in the fourth quarter worth about $25,000. Cache Advisors LLC purchased a new position in Copart in the first quarter valued at about $31,000. Reflection Asset Management bought a new position in shares of Copart during the 4th quarter valued at approximately $34,000. Triumph Capital Management grew its position in shares of Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after acquiring an additional 823 shares during the period. Finally, SJS Investment Consulting Inc. increased its stake in shares of Copart by 129.2% during the 1st 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 last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of Copart stock opened at $27.94 on Monday. The company's 50-day moving average price is $30.17 and its 200-day moving average price is $34.04. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The company has a market cap of $25.87 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Copart's revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPRT. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings lowered Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Barclays set a $26.00 target price on Copart and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Finally, Freedom Capital raised Copart to a "strong-buy" rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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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