Bleakley Financial Group LLC Purchases 25,546 Shares of Copart, Inc. $CPRT

Bleakley Financial Group LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 125.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 45,915 shares of the business services provider’s stock after acquiring an additional 25,546 shares during the quarter. Bleakley Financial Group LLC’s holdings in Copart were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in shares of Copart during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC bought a new stake in Copart in the 3rd quarter worth about $36,000. Aventura Private Wealth LLC bought a new stake in Copart in the 4th quarter worth about $33,000. Reflection Asset Management purchased a new stake in Copart in the 4th quarter valued at about $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in Copart in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CPRT shares. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Copart Trading Up 3.7%

Copart stock opened at $28.29 on Friday. The business’s 50 day simple moving average is $30.85 and its 200 day simple moving average is $34.53. Copart, Inc. has a 12 month low of $27.23 and a 12 month high of $50.11. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 17.57 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. As a group, equities research analysts forecast 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.