William Allan Corp Buys New Holdings in Copart, Inc. $CPRT

William Allan Corp purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 29,755 shares of the business services provider’s stock, valued at approximately $1,338,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR increased its holdings in shares of Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 218 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after buying an additional 228 shares during the period. Blue Trust Inc. boosted its holdings in shares of Copart by 15.4% during the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after buying an additional 232 shares during the period. PDS Planning Inc raised its holdings in Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 242 shares during the period. Finally, Unique Wealth LLC lifted its position in Copart by 2.3% during the third quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Stock Up 2.0%

CPRT stock opened at $39.83 on Friday. The company has a market cap of $38.56 billion, a PE ratio of 24.29 and a beta of 1.10. The business has a 50-day simple moving average of $39.68 and a 200 day simple moving average of $44.16. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85.

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

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The shares were 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 of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

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.