Allstate Corp Increases Stock Position in Copart, Inc. $CPRT

Allstate Corp lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 108.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 71,932 shares of the business services provider’s stock after acquiring an additional 37,462 shares during the quarter. Allstate Corp’s holdings in Copart were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CPRT. Cloud Capital Management LLC purchased a new stake in shares of Copart during the 3rd quarter valued at approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in shares of Copart during the 4th quarter valued at approximately $25,000. LRI Investments LLC lifted its stake in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after buying an additional 363 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new stake in Copart in the 4th quarter worth approximately $33,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $32.85 on Thursday. The firm’s fifty day moving average price is $33.24 and its 200-day moving average price is $36.99. The stock has a market cap of $31.64 billion, a P/E ratio of 20.40 and a beta of 1.02. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $53.09.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CPRT shares. Barclays reiterated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. 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. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.50.

Insider Buying and Selling at Copart

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

Copart 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.