Fifth Third Wealth Advisors LLC Cuts Stock Holdings in Copart, Inc. $CPRT

Fifth Third Wealth Advisors LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,818 shares of the business services provider’s stock after selling 514 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Copart were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CPRT. Cloud Capital Management LLC purchased a new stake in shares of Copart during the first quarter worth $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart during the second quarter worth $31,000. Ameritas Advisory Services LLC purchased a new stake in shares of Copart during the second quarter worth $31,000. Accent Capital Management LLC purchased a new stake in shares of Copart during the first quarter worth $36,000. Finally, GFG Capital LLC purchased a new stake in shares of Copart during the second quarter worth $37,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of several recent analyst reports. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated 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. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Copart Price Performance

Shares of CPRT opened at $43.88 on Monday. The firm has a 50 day simple moving average of $46.80 and a 200-day simple moving average of $51.23. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The stock has a market cap of $42.46 billion, a price-to-earnings ratio of 27.43 and a beta of 1.03.

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

Copart Company 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.