Rathbones Group PLC Buys 65,355 Shares of Copart, Inc. $CPRT

Key Points

• Rathbones Group increased its Copart stake by 72.6% in the first quarter, purchasing 65,355 additional shares for a total of 155,364 shares valued at approximately $5.16 million. Institutional investors collectively own 85.78% of Copart.
• Analyst sentiment is mixed, with Copart receiving a consensus “Hold” rating and an average price target of $43.50; shares opened at $29.35 and remain near their 52-week low.
• Copart exceeded quarterly expectations, reporting $0.43 in earnings per share versus a $0.41 estimate and $1.24 billion in revenue. Separately, CEO Jeffrey Liaw sold 27,745 shares for about $846,000.

Rathbones Group PLC grew its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 72.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,364 shares of the business services provider's stock after buying an additional 65,355 shares during the period. Rathbones Group PLC's holdings in Copart were worth $5,158,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Copart during the 4th quarter worth $569,569,000. Capital World Investors raised its position in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Capital International Investors purchased a new stake in Copart during the fourth quarter valued at about $195,637,000. Deutsche Bank AG lifted its stake in Copart by 94.0% during the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider's stock worth $389,764,000 after purchasing an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

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

Copart Trading Up 0.8%

NASDAQ CPRT opened at $29.35 on Tuesday. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11. The stock has a 50-day moving average of $29.73 and a 200-day moving average of $33.64. The firm has a market cap of $27.17 billion, a PE ratio of 18.23 and a beta of 1.01.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. As a group, equities research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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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