W.G. Shaheen & Associates DBA Whitney & Co Purchases 57,841 Shares of Copart, Inc. $CPRT

W.G. Shaheen & Associates DBA Whitney & Co increased its position in Copart, Inc. (NASDAQ:CPRT) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,616 shares of the business services provider’s stock after purchasing an additional 57,841 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Copart were worth $11,856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CPRT. BlackRock Inc. bought a new stake in Copart in the 2nd quarter valued at $1,908,980,000. Bank of New York Mellon Corp bought a new position in shares of Copart during the 2nd quarter worth about $488,663,000. Deutsche Bank AG bought a new position in shares of Copart during the 2nd quarter worth about $436,413,000. Bank of America Corp DE boosted its position in shares of Copart by 28.7% during the 1st quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock valued at $322,256,000 after acquiring an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Copart by 97.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock valued at $255,381,000 after acquiring an additional 4,482,226 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CPRT shares. Freedom Broker lowered their target price on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Tuesday, October 27th. JPMorgan Chase & Co. raised Copart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and an average target price of $37.90.

Copart Trading Down 1.6%

Shares of Copart stock traded down $0.53 during midday trading on Friday, reaching $31.95. The company had a trading volume of 10,542,533 shares, compared to its average volume of 11,946,629. The stock has a fifty day simple moving average of $29.45 and a 200 day simple moving average of $32.22. Copart, Inc. has a 1-year low of $25.72 and a 1-year high of $42.05. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.63 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, Director Diane Morefield sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.