Copart (NASDAQ:CPRT) Hits New 12-Month Low – Should You Sell?

Copart, Inc. (NASDAQ:CPRT) reached a new 52-week low on Wednesday . The stock traded as low as $27.23 and last traded at $27.28, with a volume of 12454387 shares traded. The stock had previously closed at $27.52.

Analysts Set New Price Targets

A number of research analysts have recently commented on CPRT shares. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Three 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Copart Stock Performance

The company’s fifty day moving average is $31.08 and its two-hundred day moving average is $34.69. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 16.94 and a beta of 1.02.

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

Institutional Investors Weigh In On Copart

A number of large investors have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC purchased a new stake in Copart during the 2nd quarter worth $206,000. Tema ETFs LLC boosted its position in Copart by 57.1% in the 2nd quarter. Tema ETFs LLC now owns 19,692 shares of the business services provider’s stock valued at $555,000 after buying an additional 7,154 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Copart by 6.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock valued at $16,307,000 after buying an additional 34,855 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in shares of Copart during the second quarter valued at about $224,000. Finally, Sunburst Financial Group LLC grew its stake in shares of Copart by 11.4% during the second quarter. Sunburst Financial Group LLC now owns 9,703 shares of the business services provider’s stock valued at $274,000 after acquiring an additional 993 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

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.