Lbp Am Sa Acquires 12,352 Shares of Copart, Inc. $CPRT

Key Points

• Lbp Am Sa increased its stake in Copart, Inc. by 145.2%, acquiring a total of 20,861 shares valued at approximately $1,024,000 after buying an additional 12,352 shares in the second quarter.
• Copart reported an earnings per share (EPS) of $0.41 for the last quarter, exceeding analysts' expectations of $0.37 and showing a year-over-year revenue increase of 2.9%.
• Institutional investors control 85.78% of Copart's stock, indicating significant interest from larger financial entities.

Lbp Am Sa grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 145.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,861 shares of the business services provider's stock after acquiring an additional 12,352 shares during the quarter. Lbp Am Sa's holdings in Copart were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CPRT. Cloud Capital Management LLC bought a new stake in Copart in the 1st quarter worth approximately $26,000. Atticus Wealth Management LLC bought a new stake in Copart in the 2nd quarter worth approximately $31,000. Accent Capital Management LLC bought a new stake in Copart in the 1st quarter worth approximately $36,000. Financial Network Wealth Advisors LLC lifted its position in Copart by 152.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after buying an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new stake in Copart in the 1st quarter worth approximately $45,000. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

Shares of Copart stock opened at $44.57 on Friday. The business's 50 day simple moving average is $47.00 and its two-hundred day simple moving average is $51.69. The stock has a market capitalization of $43.13 billion, a P/E ratio of 27.86 and a beta of 1.03. Copart, Inc. has a one year low of $44.23 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of recent research reports. HSBC set a $62.00 target price on Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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