Company Overview - RB Global, Inc. (RBA) and Copart, Inc. (CPRT) are leading companies in the global online auction and marketplace sector, primarily focusing on vehicles and commercial assets [1]. Investment Philosophy - The investment philosophy emphasizes the importance of compounding, dividend reinvesting, and patient investing through various market conditions to achieve wealth accumulation [1]. - The approach combines steady investment in high-quality assets with high-risk, high-reward opportunities, underappreciated turnaround plays, and transformative technologies [1]. Academic Background - The individual has a PhD from Brunel University and has been teaching at the college/university level for over 20 years, indicating a strong academic foundation [1].

Company Overview - ACV Auctions, an online used car auction platform, experienced a 35% drop in share price following disappointing third-quarter results and a weak financial outlook [1] - The company reported a GAAP loss of $0.14 per share, which was double the expected loss of $0.07 [2] - Third-quarter revenue reached $199.6 million, meeting Wall Street's expectations and reflecting a year-over-year growth of 16.5% [2] Financial Performance - The fourth-quarter revenue guidance is projected at $182 million, nearly 5% below consensus estimates [2] - Full-year EBITDA guidance of $57 million fell significantly short of the anticipated $68.56 million [2] - The combination of an earnings miss and a weaker-than-expected forecast led to a sharp sell-off in the stock [2] Market Reaction - ACV Auctions' shares are noted for their volatility, with 20 moves greater than 5% over the past year, indicating significant market impact from recent news [4] - The recent drop is considered a rare occurrence for the company, highlighting the market's altered perception of its business following the earnings report [4]

Company Overview - Copart, Inc. (CPRT) is based in Dallas, Texas, and specializes in online auctions and vehicle remarketing services, with a market cap of $41.6 billion [1] - The company sells vehicles through its virtual bidding platform and offers services such as salvage estimation, processing, transportation, and title management [1] Stock Performance - CPRT shares have underperformed the broader market, declining 16.5% over the past year, while the S&P 500 Index has increased by nearly 19.6% [2] - Year-to-date in 2025, CPRT stock is down 25.1%, contrasting with a 16.5% rise in the S&P 500 [2] Comparison with Industry - Compared to the Industrial Select Sector SPDR Fund (XLI), which gained about 15.2% over the past year, CPRT's underperformance is evident [3] - The ETF's 17.2% gains year-to-date further highlight CPRT's losses during the same period [3] Financial Performance - For Q4, CPRT reported revenues of $1.1 billion, reflecting a year-over-year increase of 5.2% [4] - The company's EPS rose by 24.2% year-over-year to $0.41, with analysts projecting a 5.7% growth in EPS to $1.68 for fiscal 2026 [4] Analyst Ratings - Among 11 analysts covering CPRT, the consensus rating is a "Moderate Buy," consisting of five "Strong Buy" ratings and six "Holds" [5] - JPMorgan Chase & Co. analyst Jash Patwa maintained a "Hold" rating with a price target of $50, indicating a potential upside of 16.3% [6] - The mean price target of $58.44 suggests a 35.9% premium to current price levels, while the highest price target of $65 indicates a potential upside of 51.2% [6]

Core Insights - Copart, Inc. (CPRT) is a technology company that specializes in online vehicle auctions, connecting sellers like insurance and rental car companies with buyers [1] - The company provides auctions and remarketing services for used, wholesale, and salvage vehicles [1] Company Overview - Copart operates in the online vehicle auction industry, leveraging technology to facilitate transactions between a diverse range of sellers and buyers [1] - The company has established itself as a key player in the market, focusing on efficiency and accessibility in vehicle remarketing [1] Market Position - The company’s business model capitalizes on the growing trend of online auctions, which has become increasingly popular among consumers and businesses alike [1] - By connecting various sellers with potential buyers, Copart enhances the liquidity of used vehicles, benefiting both parties involved in the transaction [1]

Company Overview - Copart, Inc. (NASDAQ: CPRT) is a technology company specializing in online vehicle auctions, connecting sellers such as insurance and rental car companies with buyers [1] - The company provides auctions and remarketing services for used, wholesale, and salvage vehicles [1] Market Position - Copart operates in a niche market that leverages technology to streamline the vehicle auction process, enhancing efficiency for both sellers and buyers [1] Investment Insights - The company is positioned to benefit from macro trends in the automotive and insurance industries, particularly as online transactions continue to grow [1]

Company Overview - Copart provides online auctions and vehicle remarketing services, including virtual bidding, salvage estimation, and end-of-life vehicle processing across North America, Europe, and select international markets [5][7] - The company operates a digital marketplace facilitating the sale and purchase of vehicles, generating revenue through transaction fees, service charges, and value-added offerings such as vehicle transportation and title processing [5][6] - As of October 13, 2025, Copart's market capitalization is $43.41 billion, with a revenue of $4.65 billion and a net income of $1.55 billion [4] Recent Developments - Argent Capital Management LLC reduced its holding in Copart by 1,262,984 shares during Q3 2025, with an estimated trade value of $59.52 million based on the average price for the quarter [1][2] - Following this reduction, Argent's remaining position in Copart is 162,339 shares, which now represents only 0.2% of the firm's reportable assets under management [2][3] - Copart's stock price as of October 13, 2025, was $44.07, reflecting a 20% decline over the one-year period and underperforming the S&P 500 by 36 percentage points [3] Financial Performance - Copart's revenue growth has slowed down significantly, with annual growth rates dropping from 15% over the last decade to 5% in the most recent quarter [11] - The company's stock has experienced a 30% decline from its high this year, which may have influenced Argent's decision to reduce its stake [11][10] - Despite the recent downturn, Copart still trades at 28 times earnings, indicating a potentially high valuation relative to its current performance [12]

Group 1: Autodesk - Autodesk is an application software company serving various industries including architecture, engineering, construction, product design, manufacturing, media, and entertainment, with over 4 million paid subscribers across 180 countries [1] - The company has transitioned to a subscription model, with over 95% of its revenue now recurring, which is expected to drive further top-line growth through upsells and a loyal user base [8] - Autodesk's competitive advantages stem from high switching costs and network effects, making it difficult for users to transition to competing software [7] Group 2: Copart - Copart has become the largest online salvage-vehicle auction operator in the U.S., with its top line growing nearly fivefold since 2009 due to land expansion and increased salvage volume [4] - The company has nearly tripled its land capacity since 2015, focusing on areas prone to natural disasters, which is crucial for handling an influx of salvage vehicles [3] - Copart conducts over 3.5 million transactions annually through its virtual bidding platform, connecting vehicle sellers with over 750,000 registered buyers [5] Group 3: InterContinental Hotels Group - As of the end of 2024, InterContinental Hotels Group operates nearly 990,000 rooms across 19 brands, with a strong presence in both midscale and luxury segments [9] - The company is well-positioned to leverage its brand assets and loyalty program, which has approximately 145 million members, to drive growth despite economic uncertainties [10] - Over 99% of the rooms are managed or franchised, providing a recurring-fee business model with high return on invested capital and significant cancellation costs for property owners [12]

Core Viewpoint - Copart, Inc. (NASDAQ: CPRT) is currently viewed as an oversold large-cap stock with varying analyst ratings and price targets indicating potential upside from current levels [1][2]. Group 1: Analyst Ratings and Price Targets - J.P. Morgan analyst Jash Patwa maintained a Hold rating on Copart, setting a price target of $50.00 [1]. - Stephens lowered its price target on Copart to $46 from $50 while maintaining an Equal Weight rating [2]. - CFRA analyst Garrett Nelson maintained a Buy rating with a price target of $65.00 [2]. - The analyst consensus for Copart is a Moderate Buy, with a median price target of $45.09, suggesting an upside of 28.60% from current levels [2]. Group 2: Company Overview - Copart, Inc. provides online auctions and vehicle remarketing services, offering a range of services including online seller access, virtual insured exchange, vehicle inspection stations, transportation services, salvage estimation services, and on-demand reporting [3].

Group 1 - The core focus of the research service is on identifying Asia-listed stocks that exhibit a significant disparity between market price and intrinsic value, particularly emphasizing deep value balance sheet bargains and wide moat stocks [1][2] - ACV Auctions Inc. (NYSE: ACVA) is highlighted as a bullish investment opportunity, with its Marketplace business expected to gain from the exit of smaller competitors, while its data services unit is in the early stages of growth [1] Group 2 - The investing group provides a variety of watch lists and monthly updates for value investors, specifically targeting investment opportunities in the Hong Kong market [2]

Group 1 - ACV's product and technology strategy is a key differentiator in the market, focusing on enhancing offerings for both supply and demand sides of the wholesale platform [2][3] - The customer base includes franchise dealers for supply and independent dealers for demand, allowing ACV to broaden its product offerings [3] - New tools have been introduced, including pricing tools, to help dealers auction their cars more efficiently and potentially for higher prices [4]