Evergreen Wealth Management LLC Buys Shares of 23,188 Copart, Inc. $CPRT

Evergreen Wealth Management LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the third quarter, HoldingsChannel.com reports. The fund purchased 23,188 shares of the business services provider’s stock, valued at approximately $1,043,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Tripletail Wealth Management LLC acquired a new stake in Copart during the 3rd quarter worth approximately $27,000. Ameritas Advisory Services LLC acquired a new stake in shares of Copart during the second quarter worth $31,000. Creekmur Asset Management LLC lifted its position in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares during the period. Finally, GFG Capital LLC bought a new position in Copart during the 2nd quarter worth about $37,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.3%

NASDAQ:CPRT opened at $41.54 on Tuesday. The stock has a market capitalization of $40.21 billion, a PE ratio of 25.33 and a beta of 1.10. Copart, Inc. has a 1-year low of $37.41 and a 1-year high of $63.85. The firm has a fifty day simple moving average of $39.54 and a 200 day simple moving average of $43.50.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the subject of several recent research reports. Robert W. Baird reduced their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Barclays restated an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. JPMorgan Chase & Co. cut their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.