Thrivent Financial for Lutherans Boosts Position in Copart, Inc. $CPRT

Thrivent Financial for Lutherans lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 210.0% during the 4th quarter, Holdings Channel reports. The fund owned 161,523 shares of the business services provider’s stock after buying an additional 109,412 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Copart were worth $6,324,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CPRT. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Copart by 13.9% during the 3rd 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 increased its position in shares of Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after purchasing an additional 31,658 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares during the last quarter. Yacktman Asset Management LP acquired a new stake in shares of Copart during the 3rd quarter worth about $3,382,000. Finally, Comgest Global Investors S.A.S. increased its position in shares of Copart by 7.2% during the 3rd 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 purchasing an additional 212,520 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of recent analyst reports. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Barclays reissued an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. dropped their target price 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 research analysts have rated the stock with a Strong Buy rating, one has given 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.com, the stock has a consensus rating of “Hold” and an average target price of $44.40.

Copart Price Performance

NASDAQ CPRT opened at $33.04 on Thursday. The company has a market cap of $31.83 billion, a P/E ratio of 20.65 and a beta of 1.02. The stock has a 50-day moving average of $33.35 and a two-hundred day moving average of $37.29. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $61.66.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

About Copart

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.