Narwhal Capital Management Makes New $2.93 Million Investment in Copart, Inc. $CPRT

Narwhal Capital Management purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 65,100 shares of the business services provider’s stock, valued at approximately $2,928,000.

Several other institutional investors have also modified their holdings of CPRT. Tripletail Wealth Management LLC acquired a new position in shares of Copart in the third quarter valued at approximately $27,000. Atticus Wealth Management LLC acquired a new position in Copart in the 2nd quarter worth $31,000. Ameritas Advisory Services LLC acquired a new position in Copart in the 2nd quarter worth $31,000. Creekmur Asset Management LLC increased its holdings in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares in the last quarter. Finally, Bank of Jackson Hole Trust raised its stake in shares of Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird reduced their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Barclays restated an “underweight” rating and set a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Price Performance

Shares of CPRT stock opened at $39.83 on Friday. The stock has a market cap of $38.56 billion, a P/E ratio of 24.29 and a beta of 1.10. The company has a fifty day moving average price of $39.68 and a two-hundred day moving average price of $44.16. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $0.37 EPS. Copart’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart 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.