Copart, Inc. $CPRT is Weybosset Research & Management LLC's Largest Position

Key Points

• Weybosset Research & Management LLC has reduced its stake in Copart, Inc. by 1.2% during the second quarter, now owning 615,208 shares valued at approximately $30.19 million.
• Copart reported earnings of $0.41 per share for the last quarter, surpassing the consensus estimate of $0.37, with revenues reaching $1.13 billion.
• The company's stock price recently increased by 0.9% to $45.85, while analysts have mixed ratings, with a consensus target price of $54.50.

Weybosset Research & Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 615,208 shares of the business services provider's stock after selling 7,774 shares during the quarter. Copart comprises about 10.4% of Weybosset Research & Management LLC's holdings, making the stock its largest position. Weybosset Research & Management LLC owned 0.06% of Copart worth $30,188,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Perpetual Ltd grew its holdings in Copart by 0.3% in the second quarter. Perpetual Ltd now owns 203,767 shares of the business services provider's stock worth $9,999,000 after purchasing an additional 704 shares during the period. IFM Investors Pty Ltd grew its holdings in Copart by 13.9% in the second quarter. IFM Investors Pty Ltd now owns 173,709 shares of the business services provider's stock worth $8,524,000 after purchasing an additional 21,227 shares during the period. Canoe Financial LP grew its holdings in Copart by 16.0% in the second quarter. Canoe Financial LP now owns 251,027 shares of the business services provider's stock worth $12,318,000 after purchasing an additional 34,700 shares during the period. Triangle Securities Wealth Management grew its holdings in Copart by 1.4% in the second quarter. Triangle Securities Wealth Management now owns 23,042 shares of the business services provider's stock worth $1,131,000 after purchasing an additional 325 shares during the period. Finally, Clare Market Investments LLC acquired a new stake in Copart in the second quarter worth $312,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Down 0.5%

NASDAQ:CPRT traded down $0.25 during mid-day trading on Tuesday, hitting $45.14. 3,817,086 shares of the stock traded hands, compared to its average volume of 5,956,840. The business's 50-day moving average price is $47.19 and its 200 day moving average price is $52.12. The company has a market cap of $43.64 billion, a PE ratio of 28.23 and a beta of 1.03. Copart, Inc. has a 12-month low of $44.96 and a 12-month high of $64.38.

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

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the business's stock in a transaction that occurred on 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 insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CPRT. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Stephens dropped their price objective 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 dropped their price objective 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 price objective on shares of Copart and gave the company 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 given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.