Intrinsic Value Partners LLC Takes $633,000 Position in Copart, Inc. $CPRT

Intrinsic Value Partners LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,170 shares of the business services provider’s stock, valued at approximately $633,000.

A number of other hedge funds have also made changes to their positions in CPRT. Cloud Capital Management LLC acquired a new stake in shares of Copart during the third quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new stake in shares of Copart during the fourth quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Copart during the third quarter worth approximately $27,000. LRI Investments LLC grew its position in shares of Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Performance

CPRT stock opened at $33.11 on Wednesday. The stock has a market capitalization of $31.90 billion, a price-to-earnings ratio of 20.69 and a beta of 1.14. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85. The stock’s fifty day moving average is $36.28 and its two-hundred day moving average is $39.59.

Copart (NASDAQ:CPRT) last posted 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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