Havemeyer Place LP Makes New Investment in Copart, Inc. $CPRT

Havemeyer Place LP purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel reports. The fund purchased 52,205 shares of the business services provider’s stock, valued at approximately $2,044,000.

Other institutional investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new position in Copart during the 4th quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new position in Copart during the 4th quarter worth approximately $33,000. Board of the Pension Protection Fund purchased a new position in Copart during the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new position in Copart during the 3rd quarter worth approximately $36,000. Finally, Larson Financial Group LLC raised its position in Copart by 36.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,363 shares of the business services provider’s stock worth $61,000 after buying an additional 366 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.96 on Friday. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 19.23 and a beta of 1.00. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.92. The firm’s 50 day simple moving average is $33.03 and its 200-day simple moving average is $36.55.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping 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 business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $0.42 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart 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.