Copart, Inc. $CPRT Shares Purchased by Entropy Technologies LP

Entropy Technologies LP increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 257.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,605 shares of the business services provider’s stock after buying an additional 161,821 shares during the quarter. Entropy Technologies LP’s holdings in Copart were worth $7,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC purchased a new position in shares of Copart during the 4th quarter worth about $25,000. Reflection Asset Management purchased a new stake in Copart in the fourth quarter valued at approximately $34,000. Cache Advisors LLC acquired a new position in Copart during the first quarter worth approximately $31,000. Triumph Capital Management increased its position in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after purchasing an additional 823 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after purchasing an additional 878 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Up 2.7%

Shares of NASDAQ CPRT opened at $27.94 on Friday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The company has a market cap of $25.87 billion, a P/E ratio of 17.35 and a beta of 1.02. The stock has a fifty day moving average price of $30.17 and a 200 day moving average price of $34.07.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPRT. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Finally, Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus price target of $43.50.

About Copart

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.