Moran Wealth Management LLC Has $2.87 Million Holdings in Copart, Inc. $CPRT

Moran Wealth Management LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 41.8% during the 3rd quarter, Holdings Channel reports. The fund owned 63,776 shares of the business services provider’s stock after selling 45,881 shares during the quarter. Moran Wealth Management LLC’s holdings in Copart were worth $2,868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tripletail Wealth Management LLC bought a new position in shares of Copart in the third quarter valued at about $27,000. Atticus Wealth Management LLC acquired a new position in shares of Copart during the second quarter worth approximately $31,000. Creekmur Asset Management LLC grew its stake in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $31,000. Finally, Bank of Jackson Hole Trust raised its position in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CPRT shares. Barclays reissued an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research note on Friday, November 21st. JPMorgan Chase & Co. cut their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Robert W. Baird reduced their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Stock Performance

Shares of Copart stock opened at $39.83 on Friday. The business’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $44.16. Copart, Inc. has a 52-week low of $37.41 and a 52-week high of $63.85. The firm has a market cap of $38.56 billion, a PE ratio of 24.29 and a beta of 1.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.