Focus Partners Wealth Increases Holdings in Copart, Inc. $CPRT

Focus Partners Wealth grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1,663.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,326,630 shares of the business services provider’s stock after purchasing an additional 3,137,997 shares during the quarter. Focus Partners Wealth owned approximately 0.34% of Copart worth $130,238,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new position in shares of Copart during the 4th quarter worth $25,000. FNY Investment Advisers LLC bought a new position in shares of Copart during the 3rd quarter worth $36,000. Aventura Private Wealth LLC bought a new position in shares of Copart during the 4th quarter worth $33,000. Board of the Pension Protection Fund bought a new position in shares of Copart during the 4th quarter worth $35,000. Finally, Triumph Capital Management grew its stake in shares of Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.75 on Monday. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.11. The business has a 50-day simple moving average of $32.85 and a two-hundred day simple moving average of $36.18. The company has a market cap of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.01.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

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.