Peak Financial Advisors LLC Takes Position in Copart, Inc. $CPRT

Key Points

• Peak Financial Advisors LLC acquired 50,277 shares of Copart, Inc. valued at approximately $2,467,000, making it the firm's 28th largest holding.
• Copart reported earnings of $0.41 per share for the last quarter, beating estimates, though revenue fell slightly short of expectations at $1.13 billion.
• 83% of Copart's stock is held by institutional investors, reflecting a strong interest in the company among larger financial entities.

Peak Financial Advisors LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 50,277 shares of the business services provider's stock, valued at approximately $2,467,000. Copart accounts for 1.3% of Peak Financial Advisors LLC's holdings, making the stock its 28th largest holding.

Several other large investors also recently made changes to their positions in CPRT. Western Pacific Wealth Management LP boosted its stake in Copart by 6.5% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock valued at $161,000 after purchasing an additional 173 shares during the last quarter. Blue Trust Inc. boosted its stake in Copart by 13.1% during the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after purchasing an additional 175 shares during the last quarter. Western Wealth Management LLC boosted its stake in Copart by 4.0% during the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after purchasing an additional 192 shares during the last quarter. Nixon Peabody Trust Co. boosted its stake in Copart by 5.0% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after purchasing an additional 195 shares during the last quarter. Finally, FSM Wealth Advisors LLC lifted its position in shares of Copart by 4.9% during the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock worth $263,000 after buying an additional 218 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT stock opened at $48.40 on Friday. The company's fifty day simple moving average is $47.39 and its two-hundred day simple moving average is $52.47. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The stock has a market capitalization of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03.

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

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Copart Company 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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