Copart (NASDAQ:CPRT) Sets New 12-Month Low – Should You Sell?

Copart, Inc. (NASDAQ:CPRT) hit a new 52-week low on Tuesday . The company traded as low as $47.93 and last traded at $47.99, with a volume of 310381 shares traded. The stock had previously closed at $48.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Trading Down 0.3%

The company’s 50-day simple moving average is $57.46 and its 200-day simple moving average is $57.32. The stock has a market capitalization of $46.65 billion, a price-to-earnings ratio of 32.38 and a beta of 1.10.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 over the last three months. 9.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Copart

A number of hedge funds have recently bought and sold shares of CPRT. eCIO Inc. bought a new position in Copart in the first quarter valued at about $173,000. Cim LLC boosted its stake in shares of Copart by 24.1% during the first quarter. Cim LLC now owns 410,060 shares of the business services provider’s stock valued at $23,205,000 after purchasing an additional 79,744 shares during the period. First Hawaiian Bank boosted its stake in shares of Copart by 17.0% during the first quarter. First Hawaiian Bank now owns 49,665 shares of the business services provider’s stock valued at $2,811,000 after purchasing an additional 7,215 shares during the period. Invst LLC purchased a new stake in Copart in the first quarter worth about $2,127,000. Finally, Strs Ohio purchased a new stake in shares of Copart during the first quarter valued at about $12,594,000. Institutional investors own 85.78% of the company’s stock.

About Copart

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.