Oppenheimer Asset Management Inc. Takes Position in Copart, Inc. $CPRT

Key Points

• Oppenheimer Asset Management acquired 140,138 Copart shares during the second quarter, valued at approximately $3.95 million. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed, with Copart receiving a consensus “Hold” rating and an average price target of $43.50; ratings range from strong buy to sell.
• Copart reported quarterly EPS of $0.43, beating estimates by $0.02, while revenue reached $1.24 billion and grew 2.1% year over year. CEO Jeffrey Liaw subsequently sold 27,745 shares for approximately $846,000.

Oppenheimer Asset Management Inc. acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,138 shares of the business services provider's stock, valued at approximately $3,950,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC bought a new stake in shares of Copart during the 1st quarter valued at $31,000. Reflection Asset Management bought a new stake in shares of Copart during the 4th quarter valued at $34,000. Elevation Wealth Partners LLC grew its position in shares of Copart by 882.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider's stock valued at $34,000 after acquiring an additional 1,094 shares during the period. Finally, Triumph Capital Management increased its stake in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock worth $40,000 after purchasing an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

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

Copart Stock Up 7.6%

CPRT stock opened at $31.61 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The company has a fifty day simple moving average of $29.30 and a two-hundred day simple moving average of $32.98. The firm has a market capitalization of $29.26 billion, a P/E ratio of 19.63 and a beta of 1.01.

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, topping analysts' consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate 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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