Copart (NASDAQ:CPRT) Reaches New 12-Month Low – What’s Next?

Shares of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.85 and last traded at $36.9650, with a volume of 4532124 shares traded. The stock had previously closed at $39.51.

Analyst Upgrades and Downgrades

Several research firms have commented on CPRT. Barclays reissued an “underweight” rating and set a $33.00 target price (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. Robert W. Baird decreased their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Copart presently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Trading Up 2.1%

The stock has a market cap of $36.29 billion, a PE ratio of 22.86 and a beta of 1.08. The business has a 50-day moving average price of $39.57 and a 200 day moving average price of $42.88.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of institutional investors and hedge funds have recently modified their holdings of CPRT. Kestra Advisory Services LLC grew its stake in Copart by 20.4% during the fourth quarter. Kestra Advisory Services LLC now owns 56,533 shares of the business services provider’s stock valued at $2,213,000 after acquiring an additional 9,574 shares in the last quarter. Fairbanks Capital Management Inc. bought a new position in Copart in the 4th quarter valued at $986,000. Parkside Financial Bank & Trust grew its position in shares of Copart by 11.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Copart by 516.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,163,304 shares of the business services provider’s stock valued at $123,844,000 after purchasing an additional 2,649,892 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Copart by 245.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 51,493 shares of the business services provider’s stock worth $2,016,000 after purchasing an additional 36,575 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Company Profile

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.