Edgestream Partners L.P. Acquires 97,067 Shares of Copart, Inc. $CPRT

Edgestream Partners L.P. lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 39.6% in the 1st quarter, Holdings Channel reports. The firm owned 342,469 shares of the business services provider’s stock after acquiring an additional 97,067 shares during the period. Copart comprises 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 25th largest holding. Edgestream Partners L.P.’s holdings in Copart were worth $11,370,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Lodestone Wealth Management LLC purchased a new stake in Copart in the fourth quarter valued at approximately $25,000. Cache Advisors LLC bought a new stake in Copart during the first quarter valued at approximately $31,000. Reflection Asset Management purchased a new position in Copart in the 4th quarter worth approximately $34,000. Triumph Capital Management grew its stake in Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after buying an additional 823 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Copart by 129.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock worth $45,000 after buying an additional 761 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Up 0.4%

Copart stock opened at $30.82 on Thursday. The firm has a fifty day simple moving average of $30.01 and a two-hundred day simple moving average of $33.87. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11. The company has a market capitalization of $28.53 billion, a PE ratio of 19.14 and a beta of 1.02.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPRT has been the topic of several research reports. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Three 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 stock. Based on data from MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

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.