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

Copart, Inc. (NASDAQ:CPRT) shares reached a new 52-week low on Wednesday . The company traded as low as $29.74 and last traded at $29.9540, with a volume of 4751713 shares traded. The stock had previously closed at $30.74.

Analyst Ratings Changes

A number of research firms recently commented on CPRT. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.50.

Copart Trading Down 4.0%

The firm has a market cap of $27.33 billion, a P/E ratio of 18.34 and a beta of 1.00. The stock’s fifty day moving average is $32.74 and its two-hundred day moving average is $36.06.

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

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CPRT. Lodestone Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC purchased a new position in Copart in the 3rd quarter worth about $36,000. Aventura Private Wealth LLC bought a new position in Copart during the fourth quarter valued at approximately $33,000. Reflection Asset Management bought a new stake in shares of Copart in the fourth quarter worth $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Copart during the 4th quarter valued at about $35,000. 85.78% of the stock is currently owned by institutional investors.

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.