Lincoln Capital LLC Buys 83,988 Shares of Copart, Inc. $CPRT

Lincoln Capital LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 102.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,792 shares of the business services provider’s stock after acquiring an additional 83,988 shares during the quarter. Copart makes up approximately 1.2% of Lincoln Capital LLC’s holdings, making the stock its 19th biggest holding. Lincoln Capital LLC’s holdings in Copart were worth $6,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings in Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after purchasing an additional 31,658 shares during the period. Panoramic Capital Partners LLC raised its position in Copart by 20.4% during the 4th quarter. Panoramic Capital Partners LLC now owns 10,173 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 1,722 shares in the last quarter. Impact Capital Partners LLC grew its position in shares of Copart by 6.9% during the 4th quarter. Impact Capital Partners LLC now owns 7,687 shares of the business services provider’s stock worth $301,000 after buying an additional 499 shares in the last quarter. Harbor Investment Advisory LLC grew its position in shares of Copart by 65.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 6,540 shares of the business services provider’s stock worth $256,000 after buying an additional 2,595 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in shares of Copart during the fourth quarter valued at $33,000. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective 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 given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.40.

Copart Stock Up 1.0%

NASDAQ:CPRT opened at $32.84 on Friday. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85. The stock has a market capitalization of $31.63 billion, a PE ratio of 20.52 and a beta of 1.09. The stock’s 50-day moving average price is $38.15 and its 200-day moving average price is $40.89.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.