Sustainable Insight Capital Management LLC Increases Position in Copart, Inc. $CPRT

Sustainable Insight Capital Management LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.5% during the first quarter, Holdings Channel reports. The firm owned 132,937 shares of the business services provider’s stock after acquiring an additional 26,200 shares during the quarter. Copart makes up approximately 1.5% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Sustainable Insight Capital Management LLC’s holdings in Copart were worth $4,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Lodestone Wealth Management LLC acquired a new stake in shares of Copart in the fourth quarter valued at $25,000. Cache Advisors LLC acquired a new position in Copart during the 1st quarter worth about $31,000. Reflection Asset Management acquired a new position in Copart during the 4th quarter worth about $34,000. Triumph Capital Management lifted its stake in Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in Copart by 129.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 761 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a report on Tuesday. Finally, Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Stock Performance

Shares of Copart stock opened at $27.94 on Friday. The business has a 50-day simple moving average of $30.17 and a 200-day simple moving average of $34.07. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company has a market cap of $25.87 billion, a PE ratio of 17.35 and a beta of 1.02.

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 the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm 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 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.