Copart (NASDAQ:CPRT) Sets New 1-Year Low – Should You Sell?

Shares of Copart, Inc. (NASDAQ:CPRT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $32.97 and last traded at $33.00, with a volume of 8784616 shares traded. The stock had previously closed at $34.05.

Analyst Ratings Changes

CPRT has been the subject of several recent analyst reports. Barclays restated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.40.

Copart Price Performance

The firm has a market cap of $31.79 billion, a PE ratio of 20.63 and a beta of 1.09. The business’s 50 day moving average price is $38.42 and its 200 day moving average price is $41.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is owned by insiders.

Institutional Trading of Copart

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Copart by 12.3% in the 4th quarter. Hsbc Holdings PLC now owns 3,311,002 shares of the business services provider’s stock valued at $129,585,000 after purchasing an additional 361,417 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Copart during the fourth quarter worth $34,000. Tobam grew its holdings in shares of Copart by 1,556.1% during the fourth quarter. Tobam now owns 22,192 shares of the business services provider’s stock worth $869,000 after buying an additional 20,852 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Copart by 564.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,523,773 shares of the business services provider’s stock valued at $98,806,000 after buying an additional 2,144,147 shares during the last quarter. Finally, Copos Capital S.a r.l. acquired a new stake in shares of Copart in the fourth quarter valued at about $459,000. 85.78% of the stock is currently owned by hedge funds and other 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.