Nykredit A S Takes $8.05 Million Position in Copart, Inc. $CPRT

Key Points

• Nykredit A/S acquired 285,516 Copart shares during the second quarter, establishing a position valued at approximately $8.05 million. Institutional investors own 85.78% of the company.
• Copart reported quarterly revenue of $1.15 billion, up 2.4% year over year and slightly above estimates, but earnings of $0.35 per share missed the $0.38 consensus forecast.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $37.22, despite the stock trading near $28.91 and a CEO sale of 27,745 shares.

Nykredit A S bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 285,516 shares of the business services provider's stock, valued at approximately $8,049,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Western Pacific Wealth Management LP grew its holdings in shares of Copart by 13.8% during the first quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider's stock valued at $88,000 after buying an additional 320 shares during the last quarter. Claret Asset Management Corp raised its holdings in Copart by 5.1% in the 4th quarter. Claret Asset Management Corp now owns 6,830 shares of the business services provider's stock worth $267,000 after acquiring an additional 329 shares during the last quarter. IFP Advisors Inc raised its holdings in Copart by 27.1% in the 4th quarter. IFP Advisors Inc now owns 1,674 shares of the business services provider's stock worth $66,000 after acquiring an additional 357 shares during the last quarter. Alpha Family Trust lifted its position in Copart by 3.4% in the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider's stock valued at $366,000 after acquiring an additional 360 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Copart by 3.0% in the 4th quarter. Parallel Advisors LLC now owns 12,783 shares of the business services provider's stock valued at $500,000 after acquiring an additional 367 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

NASDAQ:CPRT opened at $28.91 on Tuesday. The company has a market cap of $26.77 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.42 and a beta of 1.03. The stock's 50 day simple moving average is $30.57 and its two-hundred day simple moving average is $31.75. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $45.95.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%.The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Copart, Inc. will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CPRT shares. JPMorgan Chase & Co. raised Copart from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. HSBC cut Copart from a "buy" rating to a "hold" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a report on Thursday, September 3rd. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Barrington Research raised shares of Copart from a "market perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.22.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by insiders.

About Copart

Copart, Inc NASDAQ: CPRT provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.

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