Reinhart Partners LLC. Takes $2.13 Million Position in Copart, Inc. $CPRT

Key Points

• Reinhart Partners acquired 75,677 Copart shares worth approximately $2.13 million during the second quarter. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed: Copart has a consensus rating of “Hold” and an average price target of $43.50, with ratings ranging from “Strong Buy” to “Sell.”
• Copart’s latest quarterly results exceeded expectations, reporting $0.43 in EPS and $1.24 billion in revenue, while CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000.

Reinhart Partners LLC. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 75,677 shares of the business services provider's stock, valued at approximately $2,133,000.

A number of other institutional investors also recently bought and sold shares of CPRT. Versant Capital Management Inc boosted its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Cache Advisors LLC bought a new position in shares of Copart in the 1st quarter worth approximately $31,000. Reflection Asset Management purchased a new position in shares of Copart in the 4th quarter valued at approximately $34,000. Elevation Wealth Partners LLC lifted its stake in shares of Copart by 882.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider's stock valued at $34,000 after purchasing an additional 1,094 shares during the period. Finally, Triumph Capital Management boosted its position in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Transactions 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 shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.60% of the company's stock.

Analysts Set New Price Targets

CPRT has been the topic of several recent research reports. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Finally, Barclays set a $26.00 price target on shares of Copart and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Three 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $43.50.

Copart Trading Up 2.2%

Shares of NASDAQ:CPRT opened at $29.66 on Friday. The stock has a fifty day simple moving average of $29.42 and a two-hundred day simple moving average of $33.37. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 18.42 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

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

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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