Copart (NASDAQ:CPRT) Stock Price Down 3.7% – Time to Sell?

Copart, Inc. (NASDAQ:CPRT)’s stock price fell 3.7% during trading on Thursday . The stock traded as low as $29.80 and last traded at $29.6650. 1,082,391 shares changed hands during trading, a decline of 89% from the average session volume of 10,140,460 shares. The stock had previously closed at $30.82.

Analyst Ratings Changes

CPRT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Robert W. Baird reduced their target price on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Copart in a research report on Thursday, September 3rd. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.22.

Copart Trading Down 3.9%

The firm has a market cap of $27.41 billion, a PE ratio of 19.08, a P/E/G ratio of 1.50 and a beta of 1.03. The business’s 50-day simple moving average is $30.48 and its 200 day simple moving average is $31.94.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted $0.41 EPS. Copart’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Reflection Asset Management purchased a new stake in shares of Copart during the 4th quarter worth $34,000. C M Bidwell & Associates Ltd. purchased a new position in Copart in the second quarter valued at about $25,000. Cache Advisors LLC purchased a new position in Copart in the first quarter valued at about $31,000. Versant Capital Management Inc raised its holdings in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC raised its holdings in Copart by 14,062.5% in the second quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,125 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.