Moran Wealth Management LLC Purchases 226 Shares of Copart, Inc. $CPRT

Moran Wealth Management LLC grew its position in Copart, Inc. (NASDAQ:CPRT) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,657 shares of the business services provider’s stock after acquiring an additional 226 shares during the quarter. Moran Wealth Management LLC’s holdings in Copart were worth $5,381,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $26,000. Atticus Wealth Management LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the 1st quarter worth approximately $36,000. Finally, GFG Capital LLC bought a new position in shares of Copart during the 2nd quarter worth approximately $37,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CPRT shares. Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. 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 stock a “buy” rating in a research report on Thursday, September 4th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 228,840 shares of Copart 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

CPRT stock opened at $44.77 on Wednesday. The business has a fifty day moving average price of $46.73 and a 200 day moving average price of $51.11. Copart, Inc. has a fifty-two week low of $43.71 and a fifty-two week high of $64.38. The stock has a market capitalization of $43.33 billion, a price-to-earnings ratio of 27.98 and a beta of 1.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $0.33 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.