Copart (NASDAQ:CPRT) Reaches New 52-Week Low – Time to Sell?

Copart, Inc. (NASDAQ:CPRT) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $26.85 and last traded at $27.0690, with a volume of 657084 shares trading hands. The stock had previously closed at $27.49.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research note on Tuesday. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Stock Performance

The business’s 50 day simple moving average is $30.37 and its 200-day simple moving average is $34.19. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 16.88 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion for 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CPRT. State Street Corp raised its stake in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors lifted its stake in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after acquiring an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Copart during the fourth quarter valued at approximately $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

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.