Handelsbanken Fonder AB Acquires 75,388 Shares of Copart, Inc. $CPRT

Handelsbanken Fonder AB boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 16.0% in the fourth quarter, Holdings Channel reports. The firm owned 546,325 shares of the business services provider’s stock after purchasing an additional 75,388 shares during the quarter. Handelsbanken Fonder AB’s holdings in Copart were worth $21,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new position in shares of Copart in the third quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new position in shares of Copart in the fourth quarter valued at approximately $25,000. LRI Investments LLC raised 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 acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC raised 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 acquiring an additional 256 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Copart in the third quarter valued at approximately $36,000. Institutional investors own 85.78% of the company’s stock.

Copart Trading Down 0.2%

Copart stock opened at $33.04 on Thursday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $61.66. The company has a market cap of $31.83 billion, a PE ratio of 20.65 and a beta of 1.02. The company’s 50-day moving average is $33.35 and its two-hundred day moving average is $37.29.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction 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 sale, 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 position. The transaction 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CPRT shares. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays reissued an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two 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 stock. According to MarketBeat, Copart has an average rating of “Hold” and an average price target of $44.40.

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.