Copart (NASDAQ:CPRT) Sets New 52-Week Low – Should You Sell?

Copart, Inc. (NASDAQ:CPRT)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $47.05 and last traded at $47.42, with a volume of 1083714 shares traded. The stock had previously closed at $47.46.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPRT. JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Stephens started coverage on Copart in a report on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 price objective for the company.

Copart Stock Down 0.8%

The firm has a market capitalization of $45.52 billion, a P/E ratio of 30.96 and a beta of 1.07. The stock has a fifty day moving average of $53.03 and a 200-day moving average of $55.68.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CPRT. Norges Bank acquired a new position in Copart during the fourth quarter valued at approximately $682,089,000. Nuveen LLC acquired a new position in Copart during the first quarter valued at approximately $267,723,000. Edgewood Management LLC boosted its position in Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Fiera Capital Corp boosted its position in Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock valued at $225,942,000 after purchasing an additional 2,642,100 shares during the last quarter. Finally, Amundi boosted its position in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after purchasing an additional 2,299,192 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.