5 Best Auto and Truck Dealership Stocks to Buy

1. Copart, Inc. (NASDAQ:CPRT)

Number of Hedge Fund Holders: 48

As of April 28, Copart, Inc. (NASDAQ:CPRT) has returned 37.45% to investors over the past 6 months. The stock is the best auto and truck dealership stock to buy now according to hedge funds.

This February, Guggenheim analyst Jonathan Elias raised his price target on Copart, Inc. (NASDAQ:CPRT) to $82 from $75 and maintained a Buy rating on the shares.

48 hedge funds disclosed having stakes in Copart, Inc. (NASDAQ:CPRT) at the close of Q4 2022. The total value of these stakes amounted to $799 million. As of December 31, Point72 Asset Management is the dominant stockholder in the company and has a stake worth $155 million.

Madison Investments made the following comment about Copart, Inc. (NASDAQ:CPRT) in its Q1 2023 investor letter:

“Despite being long-time admirers of both its business model and top-notch executive team, Copart, Inc. (NASDAQ:CPRT) continues to surprise us with its resilient revenue and profits even in the face of various headwinds in the salvage car market. One positive factor is that high used car prices are helping to prop up salvage car auction values, which prop up Copart revenues. Even as unit growth in its core business remains challenged, the company is finding ways to grow in newer, related areas.”

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