Reinhart Partners LLC. Makes New $2.13 Million Investment in Copart, Inc. $CPRT

Reinhart Partners LLC. bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, HoldingsChannel.com reports. The firm bought 75,677 shares of the business services provider’s stock, valued at approximately $2,133,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Janney Montgomery Scott LLC grew its stake in shares of Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after purchasing an additional 41,060 shares during the period. ABN Amro Investment Solutions lifted its stake in shares of Copart by 82.5% in the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock worth $7,822,000 after purchasing an additional 90,339 shares during the period. Davidson Kahn Capital Management LLC lifted its stake in shares of Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after purchasing an additional 36,091 shares during the period. Assetmark Inc. boosted its holdings in shares of Copart by 7.3% in the fourth quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock worth $19,859,000 after buying an additional 34,410 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Finally, Barclays set a $26.00 target price on Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.50.

Copart Trading Up 2.2%

Copart stock opened at $29.66 on Friday. The firm has a 50 day moving average of $29.42 and a 200 day moving average of $33.37. The firm has a market capitalization of $27.46 billion, a price-to-earnings ratio of 18.42 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by insiders.

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.