Lbp Am Sa Buys New Holdings in Copart, Inc. $CPRT

Key Points

• Lbp Am Sa bought a new stake of 31,257 Copart shares (about $1.224M) in Q4, joining major institutions like Vanguard, Principal and State Street as institutional investors now own roughly 85.78% of the company.
• Copart missed Q4 estimates, reporting $0.36 EPS vs. $0.39 expected and $1.12B revenue vs. $1.15B expected (revenue down 3.6% YoY); the stock is trading near its 52-week low ($32.20) with a market cap of $32.22B and a P/E of ~20.9.
• Analyst sentiment is mixed (consensus "Hold" with a $44.40 target amid several downgrades/price cuts), and CEO Jeffrey Liaw recently sold 26,213 shares, reducing his position by about 24.8% (insiders own 9.60%).

Lbp Am Sa bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 31,257 shares of the business services provider's stock, valued at approximately $1,224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider's stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares during the last quarter. Principal Financial Group Inc. increased its stake in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider's stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares during the last quarter. State Street Corp increased its stake in Copart by 1.8% in the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider's stock worth $1,666,720,000 after acquiring an additional 656,428 shares during the last quarter. Invesco Ltd. increased its stake in Copart by 7.6% in the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider's stock worth $491,606,000 after acquiring an additional 771,573 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Copart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider's stock worth $401,637,000 after acquiring an additional 97,411 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays reaffirmed an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Copart in a research note on Monday, March 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an "outperform" rating in a research note on Friday, February 20th. JPMorgan Chase & Co. reduced their price objective on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Finally, Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Copart currently has a consensus rating of "Hold" and a consensus price target of $44.40.

Copart Stock Performance

NASDAQ CPRT opened at $33.45 on Friday. The company has a market cap of $32.22 billion, a P/E ratio of 20.91 and a beta of 1.14. The business's 50 day moving average price is $35.18 and its 200-day moving average price is $38.97. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company's stock.

About Copart

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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