Copart, Inc. $CPRT Stock: TD Waterhouse Canada Inc. Grows Position

TD Waterhouse Canada Inc. raised its position in Copart, Inc. (NASDAQ:CPRT) by 59.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,093 shares of the business services provider’s stock after purchasing an additional 272,909 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Copart were worth $19,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Copart during the 3rd quarter worth about $80,000. James T. Borello RIA increased its position in Copart by 109.4% during the 3rd quarter. James T. Borello RIA now owns 1,669 shares of the business services provider’s stock worth $46,000 after purchasing an additional 872 shares in the last quarter. Perryman Financial Advisory Inc. AD increased its position in Copart by 463.1% during the 3rd quarter. Perryman Financial Advisory Inc. AD now owns 61,946 shares of the business services provider’s stock worth $1,690,000 after purchasing an additional 50,946 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new stake in Copart during the 3rd quarter worth approximately $105,000. Finally, North Capital Inc. purchased a new position in Copart in the third quarter valued at approximately $64,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a research note on Thursday, September 3rd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. HSBC lowered shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research report on Wednesday, September 16th. Finally, Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Copart currently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Copart Price Performance

NASDAQ:CPRT opened at $27.87 on Friday. The business’s 50-day moving average is $30.09 and its two-hundred day moving average is $30.82. The firm has a market capitalization of $25.82 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. Copart, Inc. has a 12 month low of $25.72 and a 12 month high of $45.89.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.63 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.