CenterBook Partners LP Purchases 31,615 Shares of Copart, Inc. $CPRT

CenterBook Partners LP boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 146.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,144 shares of the business services provider’s stock after purchasing an additional 31,615 shares during the period. CenterBook Partners LP’s holdings in Copart were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Nordea Investment Management AB lifted its stake in Copart by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after buying an additional 31,658 shares in the last quarter. Comgest Global Investors S.A.S. increased its position in shares of Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after acquiring an additional 212,520 shares in the last quarter. Davidson Kahn Capital Management LLC increased its position in shares of Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after acquiring an additional 36,091 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Copart by 193.6% during the third quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock worth $42,491,000 after acquiring an additional 623,012 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in Copart by 21.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock valued at $11,215,000 after acquiring an additional 43,292 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart 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, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $31.31 on Wednesday. The company’s 50-day moving average price is $32.97 and its two-hundred day moving average price is $36.38. Copart, Inc. has a one year low of $29.97 and a one year high of $50.91. The stock has a market capitalization of $28.99 billion, a PE ratio of 19.45 and a beta of 1.00.

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