Waverly Advisors LLC Raises Stock Position in Copart, Inc. $CPRT

Key Points

• Waverly Advisors increased its Copart stake by 283.1% in the first quarter, adding 143,925 shares for a total position of 194,768 shares valued at approximately $6.47 million. Institutional investors collectively own 85.78% of Copart.
• Copart reported quarterly earnings of $0.43 per share, beating estimates by $0.02, while revenue rose 2.1% year over year to $1.24 billion. The company posted a 33.48% net margin and analysts expect $1.58 in annual EPS.
• Shares opened at $29.79, near the lower end of their 52-week range, while analyst views remained mixed; Copart’s consensus rating is “Moderate Buy” with an average price target of $43.50.

Waverly Advisors LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 283.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 194,768 shares of the business services provider's stock after purchasing an additional 143,925 shares during the quarter. Waverly Advisors LLC's holdings in Copart were worth $6,466,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in Copart during the fourth quarter valued at about $25,000. Cache Advisors LLC bought a new position in shares of Copart in the first quarter worth about $31,000. Reflection Asset Management bought a new position in shares of Copart in the fourth quarter worth about $34,000. Triumph Capital Management lifted its position in shares of Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after buying an additional 823 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in shares of Copart by 129.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider's stock valued at $45,000 after buying an additional 761 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

NASDAQ CPRT opened at $29.79 on Tuesday. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11. The business has a 50 day simple moving average of $30.10 and a two-hundred day simple moving average of $33.98. The stock has a market capitalization of $27.58 billion, a PE ratio of 18.50 and a beta of 1.02.

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

Analyst Ratings Changes

Several research firms recently issued reports on CPRT. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Barclays set a $26.00 price target on shares of Copart and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Copart presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

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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