Copart, Inc. $CPRT Position Lifted by Caxton Associates LLP

Caxton Associates LLP increased its stake in Copart, Inc. (NASDAQ:CPRT) by 149.2% during the 1st quarter, HoldingsChannel reports. The firm owned 258,878 shares of the business services provider’s stock after acquiring an additional 155,012 shares during the period. Caxton Associates LLP’s holdings in Copart were worth $8,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after acquiring an additional 492,506 shares during the last quarter. Capital World Investors grew its holdings in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Copart during the fourth quarter valued at $569,569,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $27.20 on Friday. The firm has a market cap of $25.18 billion, a PE ratio of 16.89 and a beta of 1.02. The firm’s 50 day moving average price is $30.26 and its 200 day moving average price is $34.12. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the topic of several research analyst reports. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Copart Company Profile

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.