Louisiana State Employees Retirement System Buys New Holdings in Copart, Inc. $CPRT

Louisiana State Employees Retirement System purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 109,000 shares of the business services provider’s stock, valued at approximately $3,619,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lodestone Wealth Management LLC purchased a new position in shares of Copart in the fourth quarter worth $25,000. Cache Advisors LLC bought a new stake in Copart in the 1st quarter worth $31,000. Aventura Private Wealth LLC purchased a new position in shares of Copart in the fourth quarter valued at about $33,000. Reflection Asset Management bought a new position in shares of Copart during the fourth quarter valued at about $34,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of Copart in the fourth quarter worth about $35,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $30.55 on Friday. Copart, Inc. has a 52-week low of $29.41 and a 52-week high of $50.11. The firm has a market capitalization of $28.29 billion, a P/E ratio of 18.98 and a beta of 1.00. The stock has a 50 day moving average price of $32.24 and a 200-day moving average price of $35.59.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for 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%.The firm’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 earnings per share. On average, equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CPRT shares. 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 report on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Two 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.50.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

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.