Copart, Inc. $CPRT Stock Sold by Avestar Capital LLC

Avestar Capital LLC decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 61.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,115 shares of the business services provider’s stock after selling 38,576 shares during the quarter. Avestar Capital LLC’s holdings in Copart were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. C M Bidwell & Associates Ltd. purchased a new stake in Copart in the 2nd quarter valued at $25,000. Byrne Asset Management LLC purchased a new position in shares of Copart during the 3rd quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Cherry Tree Wealth Management LLC boosted its position in shares of Copart by 14,062.5% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new position in shares of Copart during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 2.0%

Shares of Copart stock opened at $30.13 on Friday. The firm has a market cap of $27.91 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.06. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $43.38. The business’s fifty day simple moving average is $29.57 and its 200-day simple moving average is $32.44.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CPRT shares. Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Friday, September 11th. Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Freedom Broker decreased their target price on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, September 14th. BNP Paribas Exane reissued an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a report on Thursday, September 3rd. Two investment 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.80.

Insider Buying and Selling at Copart

In other Copart news, Director Diane Morefield sold 20,000 shares of Copart stock in a transaction dated 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 directly owned 50,000 shares in the company, valued at $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by corporate 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.