Copart, Inc. $CPRT Stock Bought by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 30.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 402,332 shares of the business services provider’s stock after acquiring an additional 93,556 shares during the period. Kinsale Capital Group Inc.’s holdings in Copart were worth $10,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Copart during the second quarter valued at about $1,908,980,000. Bank of New York Mellon Corp bought a new stake in shares of Copart in the second quarter valued at about $488,663,000. Deutsche Bank AG acquired a new stake in Copart during the second quarter worth about $436,413,000. Bank of America Corp DE grew its position in Copart by 28.7% during the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after buying an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Copart by 97.9% during the second quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock worth $255,381,000 after buying an additional 4,482,226 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 1.6%

NASDAQ CPRT opened at $32.45 on Tuesday. The stock has a market cap of $30.06 billion, a P/E ratio of 20.94, a PEG ratio of 1.60 and a beta of 1.01. The company’s 50-day simple moving average is $29.44 and its 200 day simple moving average is $32.18. Copart, Inc. has a twelve month low of $25.72 and a twelve month high of $42.05.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Research analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPRT shares. Barrington Research upgraded Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Tuesday, October 27th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. BNP Paribas Exane restated an “outperform” rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Finally, HSBC lowered Copart from a “buy” rating to a “hold” rating and cut their target price for the company from $46.00 to $36.00 in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.90.

Insiders Place Their Bets

In other news, Director Diane Morefield sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total value of $553,200.00. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. This represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.30% of the company’s stock.

Copart Profile

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.