Copart (NASDAQ:CPRT) Sets New 52-Week Low – Should You Sell?

Shares of Copart, Inc. (NASDAQ:CPRT) reached a new 52-week low during trading 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

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

Copart Stock Performance

The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 17.57 and a beta of 1.02. The company’s 50 day simple moving average is $30.85 and its 200 day simple moving average is $34.53.

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

Institutional Investors Weigh In On Copart

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Copart in the fourth quarter worth about $569,569,000. Capital World Investors raised its holdings in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Capital International Investors bought a new position in Copart during the fourth quarter valued at about $195,637,000. Deutsche Bank AG lifted its holdings in Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after purchasing an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

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.