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

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Copart Trading Up 0.3%

The company has a 50-day simple moving average of $32.03 and a 200 day simple moving average of $35.42. The company has a market cap of $26.10 billion, a P/E ratio of 17.51 and a beta of 1.00.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

Institutional Trading of Copart

Several institutional investors and hedge funds have recently modified their holdings of CPRT. Quadrant Capital Group LLC increased its holdings in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the period. Sierra Legacy Group lifted its holdings in shares of Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock worth $543,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after buying an additional 266 shares in the last quarter. Brown Miller Wealth Management LLC grew its position in shares of Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after buying an additional 268 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the period. Institutional investors own 85.78% of the company’s stock.

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.