18,320 Shares in Copart, Inc. $CPRT Bought by AXQ Capital LP

AXQ Capital LP bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 18,320 shares of the business services provider’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in Copart in the 3rd quarter valued at approximately $25,000. Tripletail Wealth Management LLC bought a new position in shares of Copart during the third quarter valued at $27,000. Creekmur Asset Management LLC lifted its holdings in shares of Copart by 1,063.0% during the second 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 during the period. LRI Investments LLC grew its stake in shares of Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.60% of the company’s stock.

Copart Trading Down 3.1%

CPRT opened at $35.36 on Tuesday. The company has a market cap of $34.23 billion, a price-to-earnings ratio of 22.10 and a beta of 1.08. The company’s fifty day moving average price is $39.38 and its two-hundred day moving average price is $42.45. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $32.00 target price (down previously from $33.00) on shares of Copart in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Copart has a consensus rating of “Moderate Buy” and an average price target of $44.40.

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.