Copart, Inc. $CPRT Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 34.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,522 shares of the business services provider’s stock after buying an additional 23,618 shares during the quarter. M&T Bank Corp’s holdings in Copart were worth $3,583,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPRT. 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 raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, Copart currently has a consensus rating of “Hold” and a consensus target price of $44.40.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

Copart Trading Up 0.7%

CPRT stock opened at $33.39 on Thursday. The stock has a 50-day moving average price of $34.20 and a two-hundred day moving average price of $38.07. Copart, Inc. has a 12-month low of $32.20 and a 12-month high of $63.85. The company has a market cap of $32.16 billion, a PE ratio of 20.87 and a beta of 1.02.

Copart (NASDAQ:CPRT) last posted its quarterly 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). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.40 EPS. Copart’s revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

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.