Saber Capital Managment LLC Takes Position in Copart, Inc. $CPRT

Saber Capital Managment LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 99,252 shares of the business services provider’s stock, valued at approximately $3,886,000. Copart makes up approximately 3.2% of Saber Capital Managment LLC’s portfolio, making the stock its 10th largest position.

A number of other institutional investors have also modified their holdings of CPRT. Norges Bank acquired a new stake in shares of Copart in the fourth quarter valued at $569,569,000. Capital World Investors boosted its holdings in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the period. Capital International Investors purchased a new position in Copart in the fourth quarter valued at $195,637,000. Deutsche Bank AG boosted its holdings in Copart by 94.0% in the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after purchasing an additional 4,823,111 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of recent research reports. Robert W. Baird set a $48.00 target price on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. decreased 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. Barclays reiterated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart 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 equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $44.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.75 on Monday. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 19.10 and a beta of 1.01. The business has a 50-day moving average of $32.85 and a two-hundred day moving average of $36.18. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.11.

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

Insider Transactions at Copart

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 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 filing with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is 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.