Copart, Inc. $CPRT Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 257.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,605 shares of the business services provider’s stock after buying an additional 161,821 shares during the period. Entropy Technologies LP’s holdings in Copart were worth $7,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after acquiring an additional 492,506 shares in the last quarter. Capital World Investors lifted its stake in shares of Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank acquired a new stake in Copart during the 4th quarter valued at approximately $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CPRT shares. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Finally, Barclays set a $26.00 price objective on shares of Copart and gave the company an “underweight” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Stock Up 2.7%

Shares of Copart stock opened at $27.94 on Friday. The business has a 50-day moving average price of $30.17 and a 200 day moving average price of $34.07. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The firm has a market cap of $25.87 billion, a P/E ratio of 17.35 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 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion for 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%.Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current 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.