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

Copart, Inc. (NASDAQ:CPRT)’s stock price hit a new 52-week low on Friday . The stock traded as low as $37.97 and last traded at $37.9940, with a volume of 1941098 shares. The stock had previously closed at $39.15.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPRT. Robert W. Baird decreased their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Stephens lowered their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Finally, Barclays reissued an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Down 3.6%

The business has a 50-day moving average price of $40.25 and a 200-day moving average price of $44.55. The firm has a market capitalization of $36.54 billion, a PE ratio of 23.03 and a beta of 1.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Institutional Trading of Copart

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR lifted its holdings in Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 218 shares during the period. Allworth Financial LP raised its holdings in shares of Copart by 0.8% in the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after acquiring an additional 228 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Copart by 15.4% during the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 232 shares during the last quarter. PDS Planning Inc raised its position in shares of Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after buying an additional 242 shares during the last quarter. Finally, Hollencrest Capital Management lifted its stake in shares of Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after buying an additional 244 shares during the period. Hedge funds and other 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.