AIA Group Ltd Trims Stock Position in Copart, Inc. $CPRT

AIA Group Ltd cut its stake in Copart, Inc. (NASDAQ:CPRT) by 36.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 86,516 shares of the business services provider’s stock after selling 50,234 shares during the period. AIA Group Ltd’s holdings in Copart were worth $2,872,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new position in shares of Copart in the 4th quarter valued at $25,000. Cache Advisors LLC acquired a new stake in shares of Copart during the 1st quarter worth $31,000. Aventura Private Wealth LLC acquired a new stake in shares of Copart during the 4th quarter worth $33,000. Reflection Asset Management purchased a new position in shares of Copart in the 4th quarter worth $34,000. Finally, FNY Investment Advisers LLC purchased a new stake in Copart during the third quarter valued at about $36,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Copart Price Performance

Shares of NASDAQ:CPRT opened at $27.61 on Monday. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of 17.15 and a beta of 1.02. The company has a 50 day moving average of $30.72 and a two-hundred day moving average of $34.44. Copart, Inc. has a 52-week low of $27.23 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

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.