Park Avenue Securities LLC Purchases New Shares in Copart, Inc. $CPRT

Key Points

• Park Avenue Securities LLC has acquired 26,333 shares of Copart, Inc. valued at approximately $1.29 million in Q2, indicating growing institutional interest in the company.
• Copart reported a quarterly earnings per share of $0.41, exceeding estimates and showing a **2.9%** year-over-year revenue increase, contributing to a consistent financial performance.
• Despite mixed analyst ratings, Copart's consensus rating stands at "Moderate Buy" with an average target price of $54.50, reflecting varied expectations on future stock performance.

Park Avenue Securities LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,333 shares of the business services provider's stock, valued at approximately $1,292,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Copart during the 1st quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Copart in the 4th quarter valued at $31,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the 2nd quarter valued at $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the 1st quarter valued at $36,000. Finally, Financial Network Wealth Advisors LLC increased its stake in shares of Copart by 152.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after buying an additional 473 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 1.1%

NASDAQ:CPRT opened at $44.89 on Friday. The business's 50-day moving average price is $47.15 and its two-hundred day moving average price is $51.97. The firm has a market capitalization of $43.41 billion, a price-to-earnings ratio of 28.06 and a beta of 1.03. Copart, Inc. has a 1-year low of $44.67 and a 1-year high of $64.38.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CPRT shares. Stephens lowered their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Copart Profile

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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