Rafferty Asset Management LLC Has $17.18 Million Stock Holdings in Copart, Inc. $CPRT

Rafferty Asset Management LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 382,068 shares of the business services provider’s stock after purchasing an additional 20,841 shares during the period. Rafferty Asset Management LLC’s holdings in Copart were worth $17,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Cloud Capital Management LLC bought a new position in shares of Copart in the third quarter worth about $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Copart during the 3rd quarter valued at approximately $27,000. LRI Investments LLC increased its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares in the last quarter. Creekmur Asset Management LLC lifted its stake in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is currently owned by company insiders.

Copart Stock Up 2.5%

NASDAQ CPRT opened at $38.09 on Friday. Copart, Inc. has a 52 week low of $33.81 and a 52 week high of $63.85. The business has a 50 day moving average price of $39.18 and a 200-day moving average price of $42.20. The company has a market cap of $36.87 billion, a price-to-earnings ratio of 23.81 and a beta of 1.08.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart’s revenue for the quarter 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 research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CPRT shares. Barclays reissued an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.40.

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.