CNB Bank Sells 595 Shares of Copart, Inc. $CPRT

CNB Bank lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,968 shares of the business services provider’s stock after selling 595 shares during the period. CNB Bank’s holdings in Copart were worth $538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Copart during the first quarter valued at approximately $26,000. Atticus Wealth Management LLC bought a new stake in shares of Copart during the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart during the second quarter valued at approximately $31,000. Accent Capital Management LLC bought a new stake in shares of Copart during the first quarter valued at approximately $36,000. Finally, GFG Capital LLC bought a new stake in shares of Copart during the second quarter valued at approximately $37,000. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated 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 owned by corporate insiders.

Copart Stock Performance

Shares of Copart stock opened at $44.66 on Friday. The firm has a 50-day simple moving average of $46.39 and a two-hundred day simple moving average of $50.53. The company has a market cap of $43.22 billion, a P/E ratio of 27.91 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $64.38.

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

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent research reports. Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Friday. Robert W. Baird reduced their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average 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.