Barrett & Company Inc. Acquires 600 Shares of Copart, Inc. $CPRT

Barrett & Company Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 67.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,490 shares of the business services provider’s stock after purchasing an additional 600 shares during the quarter. Barrett & Company Inc.’s holdings in Copart were worth $73,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart in the 1st quarter valued at $26,000. Atticus Wealth Management LLC bought a new stake in Copart in the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Copart in the 2nd quarter valued at $31,000. Accent Capital Management LLC bought a new stake in Copart in the 1st quarter valued at $36,000. Finally, Financial Network Wealth Advisors LLC boosted its stake in Copart by 152.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 473 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of Copart stock opened at $45.11 on Friday. The stock’s 50-day moving average is $46.97 and its 200 day moving average is $51.64. The firm has a market cap of $43.65 billion, a price-to-earnings ratio of 28.19 and a beta of 1.03. Copart, Inc. has a one year low of $44.23 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly 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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $0.33 earnings per share. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value 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 Analyst Weigh In

Several analysts recently issued reports on CPRT shares. Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Saturday, September 27th. One 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 company’s stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Copart 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.