Copart (NASDAQ:CPRT) Hits New 12-Month Low – Time to Sell?

Copart, Inc. (NASDAQ:CPRT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $38.67 and last traded at $38.75, with a volume of 7994829 shares changing hands. The stock had previously closed at $39.06.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CPRT. Stephens decreased their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.60.

Copart Trading Up 0.6%

The firm has a market cap of $37.72 billion, a P/E ratio of 24.36 and a beta of 1.06. The firm’s 50 day moving average is $42.99 and its two-hundred day moving average is $47.18.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 353,123 shares of company stock worth $15,873,689 in the last ninety days. 9.60% of the stock is currently owned by company insiders.

Institutional Trading of Copart

A number of large investors have recently bought and sold shares of CPRT. Cloud Capital Management LLC acquired a new position in shares of Copart in the third quarter valued at approximately $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the 3rd quarter valued at $27,000. LRI Investments LLC lifted its position in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in Copart in the 2nd quarter worth $31,000. Finally, Ameritas Advisory Services LLC bought a new position in Copart during the 2nd quarter worth about $31,000. 85.78% of the stock is owned by institutional investors.

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.