Copart (NASDAQ:CPRT) Sets New 1-Year Low – Time to Sell?

Copart, Inc. (NASDAQ:CPRT)’s share price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $26.36 and last traded at $26.2070, with a volume of 505,201 shares traded. The stock had previously closed at $26.48.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BNP Paribas Exane reiterated an “outperform” rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Robert W. Baird decreased their price target on Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Copart has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Copart Stock Down 0.4%

The stock has a fifty day moving average of $30.15 and a 200-day moving average of $30.87. The stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.29 and a beta of 1.06.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. William Allan Corp raised its position in Copart by 26.4% during the 3rd quarter. William Allan Corp now owns 37,460 shares of the business services provider’s stock worth $1,022,000 after buying an additional 7,823 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Copart by 229.7% in the third quarter. Mather Group LLC. now owns 25,643 shares of the business services provider’s stock valued at $700,000 after acquiring an additional 17,866 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Copart by 4,161.8% in the third quarter. Fortitude Family Office LLC now owns 4,347 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 4,245 shares in the last quarter. Union Savings Bank boosted its holdings in shares of Copart by 5,921.2% in the third quarter. Union Savings Bank now owns 6,262 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 6,158 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in shares of Copart by 71.9% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 43,247 shares of the business services provider’s stock worth $1,180,000 after acquiring an additional 18,083 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

About Copart

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.