Clearstead Advisors LLC Trims Stake in Copart, Inc. $CPRT

Clearstead Advisors LLC reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 75.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,534 shares of the business services provider’s stock after selling 25,905 shares during the quarter. Clearstead Advisors LLC’s holdings in Copart were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. X Square Capital LLC increased its position in Copart by 73.3% in the third quarter. X Square Capital LLC now owns 92,084 shares of the business services provider’s stock worth $4,141,000 after buying an additional 38,963 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Copart by 1.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 40,357 shares of the business services provider’s stock worth $1,815,000 after acquiring an additional 437 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Copart by 200.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 16,728 shares of the business services provider’s stock worth $752,000 after acquiring an additional 11,166 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in Copart by 15.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 6,144 shares of the business services provider’s stock worth $276,000 after acquiring an additional 814 shares during the period. Finally, Semanteon Capital Management LP purchased a new position in Copart during the third quarter valued at approximately $565,000. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Barclays restated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $44.40.

Copart Price Performance

Shares of NASDAQ CPRT opened at $38.09 on Friday. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85. The business’s 50 day moving average is $39.18 and its two-hundred day moving average is $42.23. The stock has a market capitalization of $36.87 billion, a P/E ratio of 23.81 and a beta of 1.08.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.