Fifth Third Wealth Advisors LLC Trims Stock Position in Copart, Inc. $CPRT

Fifth Third Wealth Advisors LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,818 shares of the business services provider’s stock after selling 514 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Copart were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Western Pacific Wealth Management LP increased its stake in shares of Copart by 6.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 173 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Copart by 13.1% in the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 175 shares in the last quarter. Western Wealth Management LLC increased its stake in shares of Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 192 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in shares of Copart by 4.9% in the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 218 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Copart by 1.6% in the 1st quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider’s stock worth $789,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird lowered their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Finally, Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Stock Down 0.4%

CPRT stock opened at $43.88 on Monday. The business has a fifty day moving average of $46.80 and a two-hundred day moving average of $51.23. The stock has a market cap of $42.46 billion, a price-to-earnings ratio of 27.43 and a beta of 1.03. Copart, Inc. has a 52-week low of $43.71 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company’s stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by insiders.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.