RiverFront Investment Group LLC Invests $1.02 Million in Copart, Inc. $CPRT

RiverFront Investment Group LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 26,012 shares of the business services provider’s stock, valued at approximately $1,018,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Copart by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after acquiring an additional 31,658 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares during the last quarter. Yacktman Asset Management LP bought a new position in Copart in the third quarter worth about $3,382,000. Finally, Comgest Global Investors S.A.S. lifted its holdings in Copart by 7.2% in the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after acquiring an additional 212,520 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s 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 trade represents 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 available through the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

NASDAQ CPRT opened at $33.44 on Tuesday. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $63.76. The firm has a market capitalization of $32.21 billion, a PE ratio of 20.90 and a beta of 1.02. The company’s 50 day simple moving average is $33.54 and its 200 day simple moving average is $37.43.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.40 EPS. Copart’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CPRT shares. Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. 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 cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.