Resonant Capital Advisors LLC Sells 1,018 Shares of Copart, Inc. (NASDAQ:CPRT)

Resonant Capital Advisors LLC decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,535 shares of the business services provider’s stock after selling 1,018 shares during the period. Resonant Capital Advisors LLC’s holdings in Copart were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Copart during the 1st quarter worth about $28,000. Pinnacle Bancorp Inc. grew its position in shares of Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Copart during the fourth quarter worth approximately $34,000. Indiana Trust & Investment Management CO acquired a new stake in Copart during the 1st quarter worth approximately $36,000. Finally, Trust Co. of Vermont bought a new stake in Copart in the 4th quarter valued at $38,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ:CPRT traded up $0.33 during trading hours on Friday, reaching $54.22. 4,272,489 shares of the company were exchanged, compared to its average volume of 4,308,782. The business has a 50 day moving average of $54.20 and a 200 day moving average of $52.75. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market capitalization of $52.18 billion, a P/E ratio of 38.18 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.00.

Copart Company 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.