Copart, Inc. $CPRT Stock Acquired by IFP Advisors Inc

IFP Advisors Inc grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1,701.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,975 shares of the business services provider’s stock after acquiring an additional 56,645 shares during the period. IFP Advisors Inc’s holdings in Copart were worth $1,636,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Western Pacific Wealth Management LP lifted its stake in shares of Copart by 13.8% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 320 shares during the period. Alpha Family Trust grew its stake in Copart by 3.4% during the first quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock worth $366,000 after purchasing an additional 360 shares during the period. Sequoia Financial Advisors LLC grew its stake in Copart by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock worth $805,000 after purchasing an additional 369 shares during the period. Versant Capital Management Inc grew its stake in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares during the period. Finally, Studio Investment Management LLC increased its holdings in Copart by 5.5% in the second quarter. Studio Investment Management LLC now owns 10,728 shares of the business services provider’s stock worth $302,000 after purchasing an additional 556 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $27.58 on Thursday. The business’s 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $30.69. The firm has a market cap of $25.55 billion, a P/E ratio of 17.79, a PEG ratio of 1.36 and a beta of 1.06. Copart, Inc. has a 52-week low of $25.72 and a 52-week high of $45.76.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CPRT shares. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Freedom Broker cut their price target on Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Robert W. Baird lowered their price objective on shares of Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, September 11th. Finally, Barrington Research upgraded shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Insiders Place Their Bets

In other Copart news, Director Diane M. Morefield sold 20,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.