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 Thursday . The stock traded as low as $36.85 and last traded at $36.9650, with a volume of 4532124 shares. The stock had previously closed at $39.51.

Wall Street Analyst Weigh In

Several analysts have issued reports on CPRT shares. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird dropped their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Barclays reissued an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Copart Stock Performance

The company has a 50-day simple moving average of $39.64 and a two-hundred day simple moving average of $42.98. The firm has a market capitalization of $35.55 billion, a P/E ratio of 22.39 and a beta of 1.08.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business earned $0.37 EPS. Copart’s revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Copart

A number of hedge funds have recently bought and sold shares of CPRT. Litman Gregory Wealth Management LLC grew its holdings in Copart by 0.7% during the 4th quarter. Litman Gregory Wealth Management LLC now owns 170,061 shares of the business services provider’s stock valued at $6,658,000 after purchasing an additional 1,241 shares during the last quarter. Cibc World Markets Corp bought a new stake in Copart in the fourth quarter worth about $6,729,000. Triumph Capital Management boosted its position in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares during the period. Pembroke Management LTD grew its stake in shares of Copart by 87.7% during the fourth quarter. Pembroke Management LTD now owns 9,684 shares of the business services provider’s stock valued at $379,000 after buying an additional 4,526 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Copart by 24,081.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,982,900 shares of the business services provider’s stock worth $77,631,000 after buying an additional 1,974,700 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

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.