Copart (NASDAQ:CPRT) Sets New 52-Week Low – Here’s What Happened

Copart, Inc. (NASDAQ:CPRT)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.37 and last traded at $29.4690, with a volume of 2056396 shares traded. The stock had previously closed at $30.55.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CPRT. Jefferies Financial Group set a $45.00 price target on Copart in a research report 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. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.50.

Copart Stock Down 5.6%

The firm has a market capitalization of $26.70 billion, a PE ratio of 17.89 and a beta of 1.01. The firm’s fifty day simple moving average is $32.24 and its 200-day simple moving average is $35.57.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CPRT. Brighton Jones LLC boosted its holdings in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the period. Jump Financial LLC purchased a new stake in Copart in the second quarter worth approximately $2,677,000. Sei Investments Co. boosted its holdings in Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the period. 85.78% of the stock is owned by 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.