Copart (NASDAQ:CPRT) Reaches New 12-Month Low – Time to Sell?

Copart, Inc. (NASDAQ:CPRT)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $27.83 and last traded at $27.8560, with a volume of 3265072 shares traded. The stock had previously closed at $28.59.

Analysts Set New Price Targets

CPRT has been the subject of several recent research reports. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Three research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Copart Price Performance

The firm has a market cap of $25.47 billion, a PE ratio of 17.09 and a beta of 1.02. The business’s 50 day moving average price is $31.31 and its 200 day moving average price is $34.88.

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

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CPRT. Nordea Investment Management AB boosted its holdings in Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after purchasing an additional 31,658 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares during the period. ABN Amro Investment Solutions lifted its holdings in Copart by 82.5% in the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after acquiring an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC grew its position in Copart by 56.3% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after acquiring an additional 36,091 shares during the period. Finally, Gotham Asset Management LLC grew its position in Copart by 193.6% in the third quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock worth $42,491,000 after acquiring an additional 623,012 shares during the period. 85.78% of the stock is currently 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.