54,526 Shares in Copart, Inc. $CPRT Purchased by Delta Global Management LP

Delta Global Management LP acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, Holdings Channel reports. The fund acquired 54,526 shares of the business services provider’s stock, valued at approximately $2,452,000.

Several other institutional investors have also modified their holdings of the stock. Cloud Capital Management LLC purchased a new position in shares of Copart in the 3rd quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new stake in Copart during the 3rd quarter valued at $27,000. LRI Investments LLC raised its holdings in 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 during the period. Cornerstone Planning Group LLC lifted its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in Copart by 173.4% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after buying an additional 548 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 0.6%

CPRT stock opened at $33.88 on Tuesday. Copart, Inc. has a twelve month low of $33.53 and a twelve month high of $63.85. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 21.18 and a beta of 1.09. The business’s fifty day simple moving average is $38.62 and its two-hundred day simple moving average is $41.27.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion for 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%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. Research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CPRT. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $44.40.

Copart Company 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.