Focus Partners Advisor Solutions LLC Purchases 5,060 Shares of Copart, Inc. $CPRT

Focus Partners Advisor Solutions LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 35.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,446 shares of the business services provider’s stock after buying an additional 5,060 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Copart were worth $954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart during the first quarter worth about $26,000. Atticus Wealth Management LLC acquired a new position in shares of Copart in the second quarter worth approximately $31,000. Ameritas Advisory Services LLC acquired a new position in shares of Copart in the second quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in shares of Copart in the first quarter worth approximately $36,000. Finally, GFG Capital LLC acquired a new position in shares of Copart in the second quarter worth approximately $37,000. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPRT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Stephens cut their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. Robert W. Baird cut their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Finally, HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research note 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Stock Down 1.1%

NASDAQ CPRT opened at $44.16 on Tuesday. The company has a market cap of $42.73 billion, a price-to-earnings ratio of 27.60 and a beta of 1.03. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38. The business has a 50 day moving average price of $46.33 and a 200-day moving average price of $50.34.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current 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.