Capital International Investors Makes New Investment in Copart, Inc. $CPRT

Capital International Investors acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,997,120 shares of the business services provider’s stock, valued at approximately $195,637,000.

Other large investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new stake in Copart in the 4th quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new position in shares of Copart in the 4th quarter worth approximately $33,000. Board of the Pension Protection Fund purchased a new position in shares of Copart in the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new position in shares of Copart in the 3rd quarter worth approximately $36,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Copart by 36.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,363 shares of the business services provider’s stock worth $61,000 after purchasing an additional 366 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.3%

Shares of NASDAQ CPRT opened at $30.86 on Tuesday. The business has a fifty day simple moving average of $32.99 and a two-hundred day simple moving average of $36.45. The firm has a market cap of $28.57 billion, a PE ratio of 19.17 and a beta of 1.01. Copart, Inc. has a twelve month low of $29.97 and a twelve month high of $50.91.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CPRT shares. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. 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 report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. 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 given a Sell rating to the stock. According to MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by company 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.