26,012 Shares in Copart, Inc. $CPRT Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,012 shares of the business services provider’s stock, valued at approximately $1,018,000.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after purchasing an additional 45,346 shares in the last quarter. Nordea Investment Management AB increased its holdings in Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after purchasing an additional 31,658 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. Comgest Global Investors S.A.S. increased its holdings in Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after purchasing an additional 212,520 shares in the last quarter. Finally, Yacktman Asset Management LP acquired a new stake in Copart in the 3rd quarter valued at $3,382,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $33.44 on Tuesday. The business has a 50-day moving average of $33.54 and a 200-day moving average of $37.43. The company has a market capitalization of $32.21 billion, a PE ratio of 20.90 and a beta of 1.02. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.76.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s 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 in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.40.

Copart 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.