OP Asset Management Ltd Purchases New Holdings in Copart, Inc. $CPRT

OP Asset Management Ltd purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 91,805 shares of the business services provider’s stock, valued at approximately $3,048,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. Banque Cantonale Vaudoise raised its stake in Copart by 64.3% in the first quarter. Banque Cantonale Vaudoise now owns 22,995 shares of the business services provider’s stock valued at $763,000 after buying an additional 8,996 shares during the period. Hixon Zuercher LLC increased its holdings in shares of Copart by 45.8% during the 1st quarter. Hixon Zuercher LLC now owns 118,672 shares of the business services provider’s stock worth $3,940,000 after acquiring an additional 37,255 shares during the last quarter. Cache Advisors LLC bought a new stake in Copart in the 1st quarter valued at $31,000. Western Pacific Wealth Management LP lifted its holdings in Copart by 13.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 320 shares during the last quarter. Finally, Krilogy Financial LLC boosted its position in Copart by 151.1% during the first quarter. Krilogy Financial LLC now owns 17,505 shares of the business services provider’s stock worth $582,000 after purchasing an additional 10,535 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT opened at $30.55 on Friday. Copart, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $50.11. The company has a market capitalization of $28.29 billion, a P/E ratio of 18.98 and a beta of 1.00. The stock has a fifty day moving average of $32.24 and a 200-day moving average of $35.59.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CPRT shares. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.50.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

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.