Teachers Retirement System of The State of Kentucky Boosts Stock Position in Copart, Inc. $CPRT

by · The Cerbat Gem

Teachers Retirement System of The State of Kentucky lifted its holdings in Copart, Inc. (NASDAQ:CPRT – Free Report) by 147.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,521 shares of the business services provider’s stock after purchasing an additional 101,704 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Copart were worth $6,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of Copart in the third quarter valued at $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the third quarter worth $27,000. Lodestone Wealth Management LLC bought a new stake in Copart in the fourth quarter worth $25,000. LRI Investments LLC lifted its position in 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 buying an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction 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 completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of analyst reports. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Barclays restated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.40.

Read Our Latest Stock Report on Copart

Copart Price Performance

Shares of CPRT opened at $33.07 on Monday. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The company has a market cap of $31.86 billion, a PE ratio of 20.67 and a beta of 1.14. The business has a fifty day moving average of $34.66 and a 200 day moving average of $38.54.

Copart (NASDAQ:CPRT – Get Free Report) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share 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 business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

About Copart

(Free Report)

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.

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