ARQ Wealth Advisors LLC Makes New Investment in Copart, Inc. $CPRT

ARQ Wealth Advisors LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,529 shares of the business services provider’s stock, valued at approximately $848,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in shares of Copart during the 4th quarter worth $25,000. FNY Investment Advisers LLC acquired a new stake in Copart in the third quarter valued at $36,000. Aventura Private Wealth LLC acquired a new stake in Copart in the fourth quarter valued at $33,000. Reflection Asset Management purchased a new stake in Copart during the 4th quarter worth about $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in Copart during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CPRT shares. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Copart Stock Down 2.9%

CPRT traded down $0.82 during trading on Friday, hitting $27.51. 9,140,964 shares of the stock were exchanged, compared to its average volume of 13,178,506. Copart, Inc. has a 1-year low of $27.49 and a 1-year high of $50.11. The stock has a fifty day moving average price of $31.31 and a two-hundred day moving average price of $34.88. The firm has a market capitalization of $25.47 billion, a P/E ratio of 17.09 and a beta of 1.02.

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 analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

About Copart

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.