Lawson Kroeker Investment Management Inc. NE Increases Stock Position in Copart, Inc. $CPRT

Lawson Kroeker Investment Management Inc. NE grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,837 shares of the business services provider’s stock after purchasing an additional 2,422 shares during the period. Copart makes up approximately 2.5% of Lawson Kroeker Investment Management Inc. NE’s investment portfolio, making the stock its 11th biggest position. Lawson Kroeker Investment Management Inc. NE’s holdings in Copart were worth $13,339,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in Copart in the 1st quarter worth approximately $26,000. Atticus Wealth Management LLC bought a new position in shares of Copart during the 2nd quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart in the second quarter valued at $31,000. Accent Capital Management LLC bought a new stake in Copart in the first quarter worth $36,000. Finally, GFG Capital LLC purchased a new stake in Copart during the second quarter valued at $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $43.88 on Friday. The firm has a market capitalization of $42.46 billion, a PE ratio of 27.43 and a beta of 1.03. The business has a 50 day simple moving average of $46.80 and a two-hundred day simple moving average of $51.26. Copart, Inc. has a 1 year low of $43.71 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPRT. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird lowered their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Stephens decreased their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity

In related news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

About Copart

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.