Greenbrier Partners Capital Management LLC Acquires New Position in Copart, Inc. $CPRT

Greenbrier Partners Capital Management LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 445,909 shares of the business services provider’s stock, valued at approximately $12,570,000. Copart makes up about 0.9% of Greenbrier Partners Capital Management LLC’s investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also modified their holdings of CPRT. Farringdon Capital Ltd. bought a new position in Copart in the 2nd quarter worth $314,000. X Square Capital LLC bought a new stake in Copart during the second quarter valued at about $2,556,000. Westpac Banking Corp bought a new stake in Copart during the second quarter valued at about $244,000. William Blair Investment Management LLC purchased a new position in shares of Copart in the second quarter valued at about $89,080,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Copart in the second quarter valued at about $2,024,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPRT has been the subject of a number of recent analyst reports. Barclays set a $26.00 price objective on Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a report on Thursday. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.67.

Copart Trading Down 1.5%

NASDAQ:CPRT opened at $33.80 on Friday. The business’s 50-day moving average is $29.49 and its 200 day moving average is $32.71. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The company has a market capitalization of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01.

Copart (NASDAQ:CPRT) last released 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. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is owned by company 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.