Copart, Inc. $CPRT Stake Boosted by Weybosset Research & Management LLC

Weybosset Research & Management LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.3% during the first quarter, Holdings Channel.com reports. The firm owned 636,508 shares of the business services provider’s stock after purchasing an additional 26,348 shares during the quarter. Copart makes up about 6.1% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 5th biggest position. Weybosset Research & Management LLC’s holdings in Copart were worth $21,132,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Copart in the 4th quarter worth $25,000. Aventura Private Wealth LLC purchased a new position in Copart during the 4th quarter worth $33,000. Reflection Asset Management acquired a new position in Copart during the 4th quarter valued at about $34,000. Board of the Pension Protection Fund acquired a new position in Copart during the 4th quarter valued at about $35,000. Finally, FNY Investment Advisers LLC purchased a new stake in Copart in the third quarter valued at about $36,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPRT has been the subject of several recent analyst reports. 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. Barclays restated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Two research 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 given a Sell rating to the company. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $30.23 on Monday. The stock’s 50-day simple moving average is $32.55 and its 200-day simple moving average is $35.87. The firm has a market capitalization of $27.99 billion, a PE ratio of 18.78 and a beta of 1.01. Copart, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $50.11.

Copart (NASDAQ:CPRT) last released its 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Sell-side analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current 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.