Kensington Investment Counsel LLC Sells 41,517 Shares of Copart, Inc. $CPRT

Kensington Investment Counsel LLC lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 70.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,596 shares of the business services provider’s stock after selling 41,517 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Copart were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Janney Montgomery Scott LLC lifted its position in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after buying an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions lifted its holdings in Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock worth $7,822,000 after acquiring an additional 90,339 shares in the last quarter. Davidson Kahn Capital Management LLC increased its stake in Copart by 56.3% during the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after purchasing an additional 36,091 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Copart by 7.3% during the fourth quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock worth $19,859,000 after acquiring an additional 34,410 shares during the period. Finally, Inlet Private Wealth LLC acquired a new stake in shares of Copart in the 4th quarter valued at about $2,637,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CPRT shares. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays set a $26.00 price target on shares of Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.50.

Copart Price Performance

Shares of Copart stock opened at $30.82 on Thursday. The firm has a market cap of $28.53 billion, a price-to-earnings ratio of 19.14 and a beta of 1.02. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The stock’s 50-day moving average is $30.01 and its 200 day moving average is $33.87.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

About Copart

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.