Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Copart, Inc., reported Q3 fiscal 2024 results showing a promising trend in the total loss frequency rate, driven by a decrease in used vehicle prices and an increase in repair costs.</li><li>This rate reverted to pre-pandemic levels during Q3 as used vehicle prices fell by 14% YoY, while repair costs remained high due to labor challenges and the complexity of vehicle repairs.</li><li>The company's Insurance business has grown its volume by 6.8% YoY, as the frequency and magnitude of storm-related activity have increased.</li></ul>

Copart, Inc., reported Q3 fiscal 2024 results showing a promising trend in the total loss frequency rate, driven by a decrease in used vehicle prices and an increase in repair costs.This rate reverted to pre-pandemic levels during Q3 as used vehicle prices fell by 14% YoY, while repair costs remained high due to labor challenges and the complexity of vehicle repairs.The company's Insurance business has grown its volume by 6.8% YoY, as the frequency and magnitude of storm-related activity have increased.

Copart Inc.: Is The Growth In Non-insurance Business A Key Growth Catalyst? - Major Drivers

<ul><li>Copart, Inc, a leading provider of online vehicle auctions, recently disclosed its second-quarter financial results for the fiscal year 2024.</li><li>The recorded statements offered valuable insights into the company's operational and financial advancements during the period.</li><li>In the insurance business, the company reported profitable growth despite slight disturbances in the comparison metrics, primarily caused by significant catastrophic events in the previous year, including Hurricane Ian.</li></ul>

Copart, Inc, a leading provider of online vehicle auctions, recently disclosed its second-quarter financial results for the fiscal year 2024.The recorded statements offered valuable insights into the company's operational and financial advancements during the period.In the insurance business, the company reported profitable growth despite slight disturbances in the comparison metrics, primarily caused by significant catastrophic events in the previous year, including Hurricane Ian.

Copart Inc: Will The Expansion of Noninsurance Business Catalyze Its Future Growth? - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Key points<ul><li>COPART Inc (CPRT) is a leading stock in the salvage industry, dominating as the clear number one player in a duopoly.</li><li>CPRT has recently gained a significant market share advantage over its main competitor, Insurance Auto Auctions (IAA), with USAA switching its salvage business entirely to CPRT.</li><li>IAA has struggled due to a lack of investment, poor service levels, and a loss of focus under its former parent company, KAR, leading to CPRT's continued success and market dominance.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key pointsCOPART Inc (CPRT) is a leading stock in the salvage industry, dominating as the clear number one player in a duopoly.CPRT has recently gained a significant market share advantage over its main competitor, Insurance Auto Auctions (IAA), with USAA switching its salvage business entirely to CPRT.IAA has struggled due to a lack of investment, poor service levels, and a loss of focus under its former parent company, KAR, leading to CPRT's continued success and market dominance.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

<ul><li>This is our first report on Copart Inc, a well-known online auctions and vehicle remarketing services provider.</li><li>With global revenue increasing by nearly 13%, including a favorable currency impact, the company demonstrated its ability to drive solid financial results.</li><li>With solid profits and cost efficiency, Copart is set to weather market changes and maintain global service excellence.</li></ul>

This is our first report on Copart Inc, a well-known online auctions and vehicle remarketing services provider.With global revenue increasing by nearly 13%, including a favorable currency impact, the company demonstrated its ability to drive solid financial results.With solid profits and cost efficiency, Copart is set to weather market changes and maintain global service excellence.

Copart Inc.: Initiation of Coverage - Business Strategy

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Ever since our 5/30/23 ETF Pathfinder, our view has been that we cannot be bearish unless a key support level breaks (at the time, that was 4050 on the SPX).</li>
<li>The S&amp;P 500 is now above 4300-4325 -- a level that, in January this year, we had anticipated would cap upside for 2023.</li>
<li>We believe 4300-4325 will act as major support moving forward, and we are bullish as long as the SPX is above 4300; we discussed this in our 7/3/23 ETF Pathfinder.</li>
</ul>


Ever since our 5/30/23 ETF Pathfinder, our view has been that we cannot be bearish unless a key support level breaks (at the time, that was 4050 on the SPX).
The S&amp;P 500 is now above 4300-4325 -- a level that, in January this year, we had anticipated would cap upside for 2023.
We believe 4300-4325 will act as major support moving forward, and we are bullish as long as the SPX is above 4300; we discussed this in our 7/3/23 ETF Pathfinder.


DXY Break Below $101 Suggests Breakouts Likely Coming for Equal-Weight SPX, Dow, and Russell 2000

United States

Copart, Inc. provides vehicle suppliers, primarily insurance companies, with a variety of services to process and sell salvage vehicles through auctions. Salvaged vehicles are primarily sold to licensed dismantlers, rebuilders, and used vehicle dealers.

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Copart Inc (CPRT US)

Copart Inc.: Is The Growth In Non-insurance Business A Key Growth Catalyst? - Major Drivers

Copart, Inc., reported Q3 fiscal 2024 results showing a promising trend in the total loss frequency rate, driven by a decrease in used vehicle...

Baptista Research

Copart Inc: Will The Expansion of Noninsurance Business Catalyze Its Future Growth? - Major Drivers

Copart, Inc, a leading provider of online vehicle auctions, recently disclosed its second-quarter financial results for the fiscal year 2024. The...

Baptista Research

Copart Inc (CPRT) - Monday, Nov 20, 2023

COPART Inc (CPRT) is a leading stock in the salvage industry, outperforming its main competitor and gaining market share due to its strong...

Value Investors Club

Copart Inc.: Initiation of Coverage - Business Strategy

This is our first report on Copart Inc, a well-known online auctions and vehicle remarketing services provider. With global revenue increasing by...

Baptista Research

DXY Break Below $101 Suggests Breakouts Likely Coming for Equal-Weight SPX, Dow, and Russell 2000

$DXY Break Below $101 Suggests Breakouts Likely Coming for Equal-Weight SPX $RSP, Dow $DJI, and Russell 2000 $IWM $RTY. $SPX remains bullish as...

Vermilion Research

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