Copart, Inc. $CPRT Shares Bought by Baskin Financial Services Inc.

Baskin Financial Services Inc. grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 765,938 shares of the business services provider’s stock after acquiring an additional 9,575 shares during the period. Copart makes up approximately 2.8% of Baskin Financial Services Inc.’s portfolio, making the stock its 18th largest position. Baskin Financial Services Inc.’s holdings in Copart were worth $37,584,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CPRT. Cloud Capital Management LLC purchased a new stake in shares of Copart in the 1st quarter worth about $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart in the 2nd quarter worth about $31,000. Ameritas Advisory Services LLC purchased a new stake in shares of Copart in the 2nd quarter worth about $31,000. Accent Capital Management LLC purchased a new stake in shares of Copart in the 1st quarter worth about $36,000. Finally, GFG Capital LLC purchased a new stake in shares of Copart in the 2nd quarter worth about $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $44.04 on Friday. The firm has a market cap of $42.62 billion, a P/E ratio of 27.53 and a beta of 1.03. Copart, Inc. has a 1-year low of $44.00 and a 1-year high of $64.38. The firm’s 50-day simple moving average is $46.84 and its 200-day simple moving average is $51.37.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens reduced their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

About Copart

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.