Copart (NASDAQ:CPRT) Sets New 1-Year Low – What’s Next?

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

Analyst Ratings Changes

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

Copart Trading Down 7.1%

The company has a market capitalization of $35.55 billion, a PE ratio of 22.39 and a beta of 1.08. The stock’s fifty day moving average is $39.64 and its two-hundred day moving average is $42.98.

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

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were 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 of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several institutional investors and hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in shares of Copart in the 3rd quarter worth $25,000. Lodestone Wealth Management LLC bought a new position in shares of Copart during the 4th quarter valued at about $25,000. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the 3rd quarter valued at about $27,000. LRI Investments LLC raised its holdings in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after buying an additional 363 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Copart in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

About Copart

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.