Whittier Trust Co. of Nevada Inc. Sells 153,055 Shares of Copart, Inc. $CPRT

Whittier Trust Co. of Nevada Inc. cut its position in Copart, Inc. (NASDAQ:CPRT) by 57.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 112,764 shares of the business services provider’s stock after selling 153,055 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Copart were worth $3,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Lodestone Wealth Management LLC purchased a new position in shares of Copart during the fourth quarter valued at approximately $25,000. Cache Advisors LLC purchased a new stake in Copart in the first quarter worth approximately $31,000. Aventura Private Wealth LLC purchased a new stake in Copart in the fourth quarter worth approximately $33,000. Reflection Asset Management bought a new stake in Copart in the 4th quarter worth approximately $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in Copart during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CPRT. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Copart Stock Up 0.9%

CPRT stock traded up $0.27 during midday trading on Tuesday, hitting $29.50. The company’s stock had a trading volume of 1,850,692 shares, compared to its average volume of 9,868,631. Copart, Inc. has a 12 month low of $27.84 and a 12 month high of $50.11. The company has a 50 day moving average of $31.69 and a two-hundred day moving average of $35.16. The firm has a market capitalization of $27.32 billion, a price-to-earnings ratio of 18.33 and a beta of 1.02.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is owned by insiders.

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.