Canandaigua National Trust Co of Florida Buys New Shares in Copart, Inc. $CPRT

Key Points

• Canandaigua National Trust Co of Florida purchased 5,658 shares of Copart, Inc. during Q2, totaling approximately $278,000.
• Copart reported Q4 earnings of $0.41 per share, exceeding expectations of $0.37, with a revenue of $1.13 billion.
• Brokerage analysts have updated their price targets for Copart, with an average target now set at $54.50; ratings range from "Strong Buy" to "Hold".

Canandaigua National Trust Co of Florida bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,658 shares of the business services provider's stock, valued at approximately $278,000.

Other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Copart during the first quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the fourth quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in Copart during the first quarter worth approximately $36,000. Financial Network Wealth Advisors LLC increased its position in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after buying an additional 473 shares during the last quarter. Finally, SouthState Corp acquired a new position in Copart during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Down 1.0%

Copart stock opened at $48.40 on Monday. The company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. The stock's 50 day moving average is $47.39 and its 200-day moving average is $52.46. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPRT. Robert W. Baird lowered their price target on 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 Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Stephens decreased their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Finally, HSBC set a $62.00 target price on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was 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 in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.68% of the company's stock.

Copart 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.

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