Midwest Trust Co Buys New Shares in Copart, Inc. $CPRT

Midwest Trust Co purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 144,543 shares of the business services provider’s stock, valued at approximately $7,093,000.

A number of other hedge funds also recently made changes to their positions in CPRT. Atticus Wealth Management LLC purchased a new stake in shares of Copart during the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC acquired a new position in Copart in the second quarter valued at $31,000. Creekmur Asset Management LLC grew its position in Copart by 1,063.0% during the second 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 during the period. Accent Capital Management LLC acquired a new stake in Copart during the first quarter worth about $36,000. Finally, Bank of Jackson Hole Trust raised its holdings in shares of 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. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 1.3%

CPRT opened at $40.51 on Monday. The firm’s 50 day moving average is $45.23 and its 200-day moving average is $49.16. Copart, Inc. has a 52-week low of $39.58 and a 52-week high of $64.38. The firm has a market capitalization of $39.21 billion, a P/E ratio of 25.32 and a beta of 1.06.

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

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated 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 SEC, which is accessible through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research reports. Stephens decreased their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res raised shares of 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 shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

About Copart

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.