17,067 Shares in Copart, Inc. $CPRT Acquired by Bayforest Capital Ltd

Bayforest Capital Ltd acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the second quarter, HoldingsChannel.com reports. The fund acquired 17,067 shares of the business services provider’s stock, valued at approximately $837,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Western Pacific Wealth Management LP boosted its holdings in shares of Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock worth $161,000 after buying an additional 173 shares during the last quarter. Blue Trust Inc. lifted its holdings in Copart by 13.1% during the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 175 shares in the last quarter. Western Wealth Management LLC lifted its holdings in Copart by 4.0% during the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 192 shares in the last quarter. FSM Wealth Advisors LLC lifted its holdings in Copart by 4.9% during the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 218 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in Copart by 1.6% during the first quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider’s stock valued at $789,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $44.07 on Tuesday. The company’s fifty day moving average is $46.77 and its 200 day moving average is $51.15. Copart, Inc. has a fifty-two week low of $43.71 and a fifty-two week high of $64.38. The stock has a market capitalization of $42.65 billion, a PE ratio of 27.54 and a beta of 1.03.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. Copart’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Robert W. Baird lowered their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Stephens lowered their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.