Copart, Inc. $CPRT Shares Newly Purchased by Vantage Investment Partners LLC

Key Points

• Vantage Investment Partners purchased 974,741 Copart shares worth approximately $26.6 million, making CPRT about 1.6% of its portfolio. Institutional investors collectively own 85.78% of the company.
• Copart shares opened at $28.96, near the lower end of their 12-month range, while the stock carries a “Moderate Buy” consensus rating and an average analyst price target of $37.80.
• Copart’s latest quarter showed revenue rising 2.4% year over year to $1.15 billion, but earnings of $0.35 per share missed estimates of $0.38. Director Diane Morefield also sold 20,000 shares valued at $553,200.

Vantage Investment Partners LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 974,741 shares of the business services provider's stock, valued at approximately $26,591,000. Copart comprises approximately 1.6% of Vantage Investment Partners LLC's holdings, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Alpha Family Trust raised its holdings in Copart by 3.4% in the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider's stock valued at $366,000 after acquiring an additional 360 shares during the period. Sequoia Financial Advisors LLC lifted its position in Copart by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider's stock worth $805,000 after acquiring an additional 369 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Copart by 1.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,183 shares of the business services provider's stock worth $660,000 after acquiring an additional 447 shares during the period. Sigma Investment Counselors Inc. boosted its holdings in shares of Copart by 0.9% during the third quarter. Sigma Investment Counselors Inc. now owns 50,691 shares of the business services provider's stock worth $1,383,000 after acquiring an additional 467 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the period. Institutional investors own 85.78% of the company's stock.

Insider Transactions at Copart

In other news, Director Diane Morefield sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPRT. Barclays set a $25.00 target price on Copart and gave the company an "underweight" rating in a research report on Wednesday, August 26th. Zacks Research upgraded Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a report on Thursday, September 3rd. BNP Paribas Exane reaffirmed an "outperform" rating and set a $43.00 target price (up from $40.00) on shares of Copart in a report on Monday, September 28th. Finally, 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 report on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.80.

Copart Trading Up 0.1%

Shares of CPRT stock opened at $28.96 on Thursday. Copart, Inc. has a 12 month low of $25.72 and a 12 month high of $43.69. The business's 50-day moving average price is $29.74 and its 200-day moving average price is $32.54. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.42 and a beta of 1.06.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). The business had revenue of $1.15 billion for 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%. Copart's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.