Clarkston Capital Partners LLC Reduces Stock Position in Copart, Inc. $CPRT

Clarkston Capital Partners LLC trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 37.0% in the first quarter, Holdings Channel.com reports. The fund owned 233,076 shares of the business services provider’s stock after selling 137,014 shares during the period. Clarkston Capital Partners LLC’s holdings in Copart were worth $7,738,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Lodestone Wealth Management LLC purchased a new position in Copart in the 4th quarter valued at approximately $25,000. Reflection Asset Management purchased a new stake in Copart during the fourth quarter worth $34,000. Cache Advisors LLC purchased a new stake in Copart during the first quarter worth $31,000. Triumph Capital Management grew its holdings in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Stock Up 0.1%

NASDAQ CPRT opened at $27.20 on Friday. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The business has a fifty day moving average of $30.26 and a 200-day moving average of $34.12. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 16.89 and a beta of 1.02.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

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.