Lbp Am Sa Boosts Position in Copart, Inc. $CPRT

Lbp Am Sa increased its position in Copart, Inc. (NASDAQ:CPRT) by 145.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,861 shares of the business services provider’s stock after purchasing an additional 12,352 shares during the period. Lbp Am Sa’s holdings in Copart were worth $1,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP grew its stake in Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock worth $161,000 after purchasing an additional 173 shares during the period. Blue Trust Inc. grew its stake in Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock worth $85,000 after purchasing an additional 175 shares during the period. Western Wealth Management LLC grew its stake in Copart by 4.0% in the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock worth $282,000 after purchasing an additional 192 shares during the period. Nixon Peabody Trust Co. grew its stake in Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider’s stock worth $232,000 after purchasing an additional 195 shares during the period. Finally, FSM Wealth Advisors LLC grew its stake in Copart by 4.9% in the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock worth $263,000 after purchasing an additional 218 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CPRT. HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Robert W. Baird dropped their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Trading Down 1.2%

Copart stock opened at $44.57 on Friday. The business’s fifty day simple moving average is $47.00 and its two-hundred day simple moving average is $51.69. Copart, Inc. has a 12 month low of $44.23 and a 12 month high of $64.38. The company has a market capitalization of $43.13 billion, a price-to-earnings ratio of 27.86 and a beta of 1.03.

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

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

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.