CHICAGO TRUST Co NA Grows Position in Copart, Inc. $CPRT

Key Points

• CHICAGO TRUST Co NA increased its position in Copart, Inc. by 61.8%, owning 21,781 shares valued at approximately $1,069,000 following an acquisition of 8,320 shares in the 2nd quarter.
• Copart reported a quarterly EPS of $0.41, surpassing analyst expectations of $0.37, but revenue was slightly below estimates at $1.13 billion.
• Analysts have varied expectations for Copart, with HSBC upgrading it to a "strong-buy", while others like Stephens have lowered their price target, indicating a consensus rating of "Moderate Buy".

CHICAGO TRUST Co NA increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 61.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,781 shares of the business services provider's stock after acquiring an additional 8,320 shares during the quarter. CHICAGO TRUST Co NA's holdings in Copart were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sowell Financial Services LLC acquired a new position in shares of Copart during the 1st quarter valued at about $604,000. China Universal Asset Management Co. Ltd. lifted its position in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock valued at $1,350,000 after buying an additional 8,181 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after buying an additional 297,210 shares during the last quarter. 111 Capital acquired a new position in Copart in the fourth quarter valued at about $967,000. Finally, Private Trust Co. NA lifted its position in Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock valued at $234,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Performance

Copart stock opened at $45.38 on Tuesday. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The business has a fifty day moving average of $47.19 and a two-hundred day moving average of $52.12. The company has a market cap of $43.88 billion, a P/E ratio of 28.36 and a beta of 1.03.

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

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart 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 disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CPRT shares. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Stephens cut their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

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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