Copart, Inc. $CPRT Shares Newly Bought by Lipe & Dalton

Lipe & Dalton acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,482 shares of the business services provider’s stock, valued at approximately $695,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Copart during the 2nd quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new position in shares of Copart in the second quarter worth $488,663,000. Deutsche Bank AG purchased a new position in shares of Copart in the second quarter worth $436,413,000. Bank of America Corp DE lifted its stake in shares of Copart by 28.7% during the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after buying an additional 2,165,708 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Copart by 97.9% during the second quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock worth $255,381,000 after buying an additional 4,482,226 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ:CPRT opened at $26.27 on Thursday. Copart, Inc. has a one year low of $25.72 and a one year high of $45.89. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.29 and a beta of 1.06. The firm’s fifty day moving average is $30.15 and its two-hundred day moving average is $30.87.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Freedom Broker reduced their target price on Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 14th. Barclays set a $25.00 price target on Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research report on Thursday, September 3rd. Finally, Robert W. Baird dropped their price target on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.