Culbertson A N & Co. Inc. Purchases New Shares in Copart, Inc. $CPRT

Culbertson A N & Co. Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the third quarter, Holdings Channel reports. The fund acquired 24,028 shares of the business services provider’s stock, valued at approximately $655,000.

Several other large investors have also modified their holdings of CPRT. BlackRock Inc. purchased a new position in shares of Copart during the 2nd quarter worth $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in Copart in the 2nd quarter valued at about $488,663,000. Deutsche Bank AG purchased a new stake in Copart in the 2nd quarter valued at about $436,413,000. Bank of America Corp DE acquired a new position in Copart in the second quarter valued at about $191,347,000. Finally, Legal & General Group Plc purchased a new position in Copart during the second quarter worth about $167,000,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 5.5%

Shares of CPRT stock opened at $29.09 on Friday. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $45.26. The stock has a market capitalization of $26.95 billion, a PE ratio of 18.77, a P/E/G ratio of 1.35 and a beta of 1.06. The firm has a 50 day moving average of $29.99 and a two-hundred day moving average of $30.66.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director Diane Morefield sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the sale, the director owned 50,000 shares of the company’s stock, valued at $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CPRT shares. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday, September 3rd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Robert W. Baird dropped their target price on shares of Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, September 11th. BNP Paribas Exane reissued an “outperform” rating and issued a $43.00 target price (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Finally, Barclays set a $25.00 price target on Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.