Atticus Wealth Management LLC Invests $31,000 in Copart, Inc. $CPRT

Atticus Wealth Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the second quarter, Holdings Channel.com reports. The firm purchased 622 shares of the business services provider’s stock, valued at approximately $31,000.

Several other institutional investors have also recently made changes to their positions in the business. Western Pacific Wealth Management LP grew its holdings in Copart by 6.5% during 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 buying an additional 173 shares in the last quarter. Blue Trust Inc. grew its stake in Copart by 13.1% during the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 175 shares in the last quarter. Western Wealth Management LLC grew its stake in Copart by 4.0% during the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 192 shares in the last quarter. Nixon Peabody Trust Co. grew its stake in Copart by 5.0% during the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 195 shares in the last quarter. Finally, FSM Wealth Advisors LLC grew its stake in Copart by 4.9% during the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $45.46 on Friday. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 28.41 and a beta of 1.03. The stock has a 50 day moving average price of $47.26 and a 200 day moving average price of $52.26. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens cut their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird dropped their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Copart presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.