Copart, Inc. $CPRT Position Boosted by Bank of Montreal Can

Bank of Montreal Can boosted its position in Copart, Inc. (NASDAQ:CPRT) by 28.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,608,882 shares of the business services provider’s stock after buying an additional 357,650 shares during the quarter. Bank of Montreal Can owned approximately 0.17% of Copart worth $72,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Legal & General Group Plc lifted its holdings in Copart by 5.1% during the 3rd quarter. Legal & General Group Plc now owns 5,749,271 shares of the business services provider’s stock worth $258,545,000 after buying an additional 276,586 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Copart by 52.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 16,418 shares of the business services provider’s stock valued at $738,000 after acquiring an additional 5,680 shares during the last quarter. Bell Asset Management Ltd acquired a new stake in shares of Copart during the 3rd quarter valued at approximately $3,985,000. Fieldview Capital Management LLC raised its position in shares of Copart by 1,118.2% during the 3rd quarter. Fieldview Capital Management LLC now owns 58,669 shares of the business services provider’s stock valued at $2,638,000 after acquiring an additional 53,853 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Copart by 29.7% during the third quarter. Russell Investments Group Ltd. now owns 3,188,024 shares of the business services provider’s stock worth $143,244,000 after purchasing an additional 729,720 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPRT has been the subject of a number of research reports. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.40.

Copart Stock Down 2.1%

CPRT stock opened at $35.55 on Thursday. The company has a 50-day simple moving average of $38.89 and a 200 day simple moving average of $41.63. The company has a market capitalization of $34.25 billion, a P/E ratio of 22.22 and a beta of 1.09. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.