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

Copart, Inc. (NASDAQ:CPRT)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $29.41 and last traded at $29.48, with a volume of 12409585 shares. The stock had previously closed at $30.23.

Analyst Ratings Changes

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

Copart Stock Performance

The company has a market capitalization of $27.29 billion, a P/E ratio of 18.31 and a beta of 1.01. The firm’s fifty day moving average is $32.48 and its 200 day moving average is $35.81.

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

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Institutional Trading of Copart

A number of large investors have recently made changes to their positions in CPRT. Brighton Jones LLC grew its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the period. Jump Financial LLC purchased a new stake in shares of Copart in the second quarter valued at approximately $2,677,000. Sei Investments Co. grew its stake in Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after buying an additional 13,860 shares in the last quarter. 85.78% of the stock is 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.