Copart (NASDAQ:CPRT) Sets New 52-Week Low – Here’s What Happened

Copart, Inc. (NASDAQ:CPRT)’s stock price hit a new 52-week low during 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

Several analysts have recently commented on CPRT shares. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Barclays reissued an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Copart has an average rating of “Hold” and an average target price of $44.50.

Copart Stock Performance

The company has a market cap of $27.29 billion, a PE ratio of 18.31 and a beta of 1.01. The stock has a 50 day moving average of $32.48 and a 200-day moving average of $35.81.

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

Insider Buying and Selling

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

Institutional Trading of Copart

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lodestone Wealth Management LLC purchased a new position in shares of Copart during the fourth quarter worth $25,000. Cache Advisors LLC purchased a new stake in Copart in the 1st quarter worth approximately $31,000. Aventura Private Wealth LLC acquired a new stake in shares of Copart during the 4th quarter worth approximately $33,000. Reflection Asset Management purchased a new position in shares of Copart during the 4th quarter valued at approximately $34,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of Copart in the 4th quarter valued at $35,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

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.