Allstate Corp Raises Stock Holdings in Copart, Inc. $CPRT

Allstate Corp raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 21.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,832 shares of the business services provider’s stock after purchasing an additional 5,475 shares during the quarter. Allstate Corp’s holdings in Copart were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Copart by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,751,965 shares of the business services provider’s stock valued at $157,958,000 after purchasing an additional 81,971 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Copart by 54.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,541 shares of the business services provider’s stock worth $261,000 after purchasing an additional 1,606 shares during the last quarter. MGO One Seven LLC increased its stake in Copart by 40.5% in the 4th quarter. MGO One Seven LLC now owns 14,821 shares of the business services provider’s stock worth $851,000 after buying an additional 4,271 shares during the period. Finally, Syon Capital LLC lifted its holdings in Copart by 28.2% during the 4th quarter. Syon Capital LLC now owns 6,464 shares of the business services provider’s stock valued at $371,000 after buying an additional 1,421 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.68% of the stock is owned by corporate insiders.

Copart Trading Up 2.7%

CPRT opened at $48.96 on Friday. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 32.21 and a beta of 1.04. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The stock has a fifty day moving average price of $47.34 and a 200-day moving average price of $53.53.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Stephens began coverage on Copart in a research report on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.33.

Copart Company Profile

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.