Copart (NASDAQ:CPRT) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Copart, Inc. (NASDAQ:CPRT) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $32.18 and traded as high as $32.69. Copart shares last traded at $32.45, with a volume of 8,520,363 shares changing hands.

Analysts Set New Price Targets

CPRT has been the topic of several analyst reports. Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Freedom Broker cut their target price on Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, September 14th. Robert W. Baird reduced their price target on shares of Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, September 11th. Deutsche Bank set a $40.00 price target on shares of Copart in a research note on Thursday, September 3rd. Finally, Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.90.

Copart Trading Down 0.4%

The firm has a market cap of $29.80 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.58 and a beta of 1.01. The business has a 50-day moving average price of $29.42 and a 200-day moving average price of $32.09.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Copart

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 shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,383,000. This represents 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. Corporate insiders own 9.30% of the company’s stock.

Hedge Funds Weigh In On Copart

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new position in shares of Copart in the 3rd quarter worth $240,000. Private Wealth Asset Management LLC boosted its position in Copart by 1,362.6% during the third quarter. Private Wealth Asset Management LLC now owns 6,494 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 6,050 shares in the last quarter. Westpac Banking Corp boosted its position in Copart by 30.0% during the third quarter. Westpac Banking Corp now owns 11,264 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 2,602 shares in the last quarter. Private Advisor Group LLC grew its stake in Copart by 24.4% in the third quarter. Private Advisor Group LLC now owns 32,782 shares of the business services provider’s stock valued at $894,000 after purchasing an additional 6,420 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in Copart by 95.5% in the third quarter. Landscape Capital Management L.L.C. now owns 140,360 shares of the business services provider’s stock valued at $3,829,000 after purchasing an additional 68,578 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Company 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.