Sigma Investment Counselors Inc. Acquires Shares of 59,503 Copart, Inc. $CPRT

Key Points

• Sigma Investment Counselors acquired a new stake of 59,503 Copart shares during Q4, valued at about $2.33 million.
• CEO Jeffrey Liaw sold 26,213 shares on April 15 for roughly $869,747, reducing his ownership by 24.8% to 79,532 shares; insiders own 9.60% of the stock while institutional investors hold 85.78%.
• Analysts are mixed with a consensus "Hold" rating and $44.40 price target after Copart missed Q results (EPS $0.36 vs. $0.39) and reported revenue down 3.6% year‑over‑year.

Sigma Investment Counselors Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 59,503 shares of the business services provider's stock, valued at approximately $2,330,000.

Other large investors have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of Copart in the third quarter valued at $25,000. Lodestone Wealth Management LLC bought a new position in shares of Copart in the fourth quarter valued at $25,000. LRI Investments LLC lifted its stake in shares of Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock valued at $29,000 after buying an additional 363 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock valued at $31,000 after buying an additional 256 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new position in shares of Copart in the fourth quarter valued at $33,000. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays reaffirmed an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Weiss Ratings lowered shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.40.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.60% of the company's stock.

Copart Trading Up 0.7%

Shares of NASDAQ:CPRT opened at $33.39 on Thursday. The company has a 50 day moving average of $34.20 and a 200 day moving average of $38.07. The stock has a market cap of $32.16 billion, a P/E ratio of 20.87 and a beta of 1.02. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $63.85.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. On average, equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.