OLD National Bancorp IN Buys 337,781 Shares of Copart, Inc. $CPRT

OLD National Bancorp IN raised its stake in Copart, Inc. (NASDAQ:CPRT) by 69.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 825,692 shares of the business services provider’s stock after purchasing an additional 337,781 shares during the period. OLD National Bancorp IN owned 0.09% of Copart worth $27,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Copart during the fourth quarter valued at approximately $25,000. Cache Advisors LLC purchased a new position in Copart in the first quarter worth $31,000. Aventura Private Wealth LLC acquired a new position in shares of Copart during the fourth quarter worth $33,000. Reflection Asset Management purchased a new stake in shares of Copart during the 4th quarter valued at $34,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Copart in the 4th quarter worth $35,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $30.05 on Friday. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 18.66 and a beta of 1.00. The business has a fifty day moving average of $32.30 and a 200 day moving average of $35.62. Copart, Inc. has a 1 year low of $29.41 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 Activity at Copart

In related 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 owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CPRT. Weiss Ratings cut 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. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

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.