Bancreek Capital Management LP Has $1.17 Million Stake in Copart, Inc. $CPRT

Bancreek Capital Management LP trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 60.8% during the 4th quarter, HoldingsChannel reports. The fund owned 29,942 shares of the business services provider’s stock after selling 46,506 shares during the quarter. Copart comprises 4.9% of Bancreek Capital Management LP’s holdings, making the stock its 7th biggest position. Bancreek Capital Management LP’s holdings in Copart were worth $1,172,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackDiamond Wealth Management LLC increased its position in shares of Copart by 14.9% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 7,781 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 1,009 shares in the last quarter. Jackson Hill Advisors LLC lifted its position in Copart by 41.8% in the 4th quarter. Jackson Hill Advisors LLC now owns 339,000 shares of the business services provider’s stock valued at $13,272,000 after acquiring an additional 100,000 shares in the last quarter. CIBC Asset Management Inc lifted its position in Copart by 34.6% in the 4th quarter. CIBC Asset Management Inc now owns 388,496 shares of the business services provider’s stock valued at $15,210,000 after acquiring an additional 99,900 shares in the last quarter. Marble Wealth LLC purchased a new stake in Copart during the 4th quarter valued at $338,000. Finally, Bank of New York Mellon Corp boosted its stake in Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $30.35 on Thursday. Copart, Inc. has a one year low of $29.97 and a one year high of $51.01. The stock has a fifty day moving average of $33.12 and a 200 day moving average of $36.67. The stock has a market cap of $28.10 billion, a PE ratio of 18.85 and a beta of 1.00.

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

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CPRT shares. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.50.

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.