Rathbones Group PLC Boosts Stock Position in Copart, Inc. $CPRT

by · The Cerbat Gem

Rathbones Group PLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 72.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,364 shares of the business services provider’s stock after purchasing an additional 65,355 shares during the period. Rathbones Group PLC’s holdings in Copart were worth $5,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $31,000. Reflection Asset Management bought a new position in shares of Copart during the fourth quarter valued at approximately $34,000. Triumph Capital Management lifted its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. SJS Investment Consulting Inc. lifted its stake in Copart by 129.2% in the first quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock worth $45,000 after acquiring an additional 761 shares during the period. Finally, DV Equities LLC bought a new stake in Copart in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPRT. Barclays set a $26.00 price objective on shares of Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.50.

Check Out Our Latest Analysis on CPRT

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $29.35 on Tuesday. The firm has a 50 day moving average price of $29.73 and a 200-day moving average price of $33.64. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a market capitalization of $27.17 billion, a price-to-earnings ratio of 18.23 and a beta of 1.01.

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

Copart Company Profile

(Free Report)

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.

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