K.J. Harrison & Partners Inc Takes $1.44 Million Position in Copart, Inc. $CPRT

K.J. Harrison & Partners Inc acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 51,000 shares of the business services provider’s stock, valued at approximately $1,438,000.

Several other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC grew its holdings in Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after acquiring an additional 264 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 266 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 282 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Copart by 11.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after purchasing an additional 288 shares during the last quarter. Finally, American Trust raised its holdings in shares of Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Barclays set a $26.00 target price on Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.50.

Copart Stock Up 0.3%

Shares of Copart stock opened at $31.70 on Tuesday. The stock has a market cap of $29.35 billion, a PE ratio of 19.69 and a beta of 1.01. The business has a fifty day simple moving average of $29.31 and a 200-day simple moving average of $32.85. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11.

Copart (NASDAQ:CPRT) last posted its quarterly 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. The firm 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%.Copart’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is currently 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.