Lincoln Capital LLC Purchases 32,903 Shares of Copart, Inc. $CPRT

Lincoln Capital LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,890 shares of the business services provider’s stock after buying an additional 32,903 shares during the period. Copart makes up 1.0% of Lincoln Capital LLC’s holdings, making the stock its 25th biggest position. Lincoln Capital LLC’s holdings in Copart were worth $5,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Copart in the second quarter valued at about $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart in the 2nd quarter valued at about $488,663,000. Deutsche Bank AG bought a new stake in Copart in the 2nd quarter valued at about $436,413,000. Bank of America Corp DE grew its position in shares of Copart by 28.7% during the 1st quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after purchasing an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Copart by 97.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock worth $255,381,000 after purchasing an additional 4,482,226 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CPRT. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $43.00 price objective (up from $40.00) on shares of Copart in a report on Monday, September 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $40.00 in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research report on Thursday, September 3rd. Finally, HSBC downgraded shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Copart Stock Performance

Shares of CPRT traded down $0.16 during mid-day trading on Friday, reaching $27.32. 7,281,999 shares of the company were exchanged, compared to its average volume of 10,203,497. The business has a 50 day simple moving average of $30.36 and a two-hundred day simple moving average of $31.05. The stock has a market capitalization of $25.31 billion, a PE ratio of 17.63, a PEG ratio of 1.30 and a beta of 1.06. Copart, Inc. has a 52 week low of $26.39 and a 52 week high of $45.89.

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

Insider Buying and Selling at Copart

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

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.