Copart, Inc. $CPRT Stock Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 8,711.0% during the third quarter, HoldingsChannel reports. The firm owned 55,333 shares of the business services provider’s stock after acquiring an additional 54,705 shares during the period. Fulcrum Asset Management LLP’s holdings in Copart were worth $1,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CPRT. BlackRock Inc. purchased a new stake in Copart in the 2nd quarter valued at $1,908,980,000. Bank of New York Mellon Corp acquired a new stake in shares of Copart in the 2nd quarter worth $488,663,000. Deutsche Bank AG purchased a new position in shares of Copart during the 2nd quarter worth $436,413,000. Bank of America Corp DE raised its holdings in shares of Copart by 28.7% during the 1st quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after acquiring an additional 2,165,708 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Copart by 97.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock valued at $255,381,000 after acquiring an additional 4,482,226 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $32.17 on Thursday. The firm has a market capitalization of $29.80 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Copart, Inc. has a 1 year low of $25.72 and a 1 year high of $42.05. The firm’s 50-day moving average is $29.42 and its two-hundred day moving average is $32.09.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Diane Morefield sold 20,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $1,383,000. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CPRT. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Barrington Research upgraded Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Friday, September 11th. Finally, Robert W. Baird lowered their price objective on Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and an average target price of $37.90.

Copart Company Profile

Copart, Inc. operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment. The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation. Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.