Barclays PLC Acquires 312,072 Shares of Copart, Inc. $CPRT

Barclays PLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,298,911 shares of the business services provider’s stock after purchasing an additional 312,072 shares during the period. Barclays PLC owned 0.86% of Copart worth $373,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Cloud Capital Management LLC bought a new stake in Copart during the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC bought a new position in shares of Copart in the third quarter worth $27,000. LRI Investments LLC boosted its holdings in shares of Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC grew its position in shares of 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 purchasing an additional 256 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Copart by 173.4% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 548 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Barclays reaffirmed an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Two investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.40.

Copart Price Performance

Shares of Copart stock opened at $37.72 on Friday. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85. The business’s 50 day simple moving average is $39.07 and its two-hundred day simple moving average is $41.92. The stock has a market capitalization of $36.34 billion, a P/E ratio of 23.58 and a beta of 1.09.

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 the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.