Copart, Inc. $CPRT Holdings Boosted by JGP Wealth Management LLC

JGP Wealth Management LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,741 shares of the business services provider’s stock after acquiring an additional 405 shares during the quarter. JGP Wealth Management LLC’s holdings in Copart were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at approximately $26,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at approximately $36,000. Finally, GFG Capital LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 228,840 shares of the firm’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 transaction of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $44.77 on Wednesday. The stock has a market capitalization of $43.33 billion, a price-to-earnings ratio of 27.98 and a beta of 1.03. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The company has a 50 day moving average price of $46.73 and a 200 day moving average price of $51.11.

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

About Copart

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.