Copart (NASDAQ:CPRT) Reaches New 12-Month Low - What's Next?

Copart, Inc. (NASDAQ:CPRT - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $47.69 and last traded at $48.01, with a volume of 368744 shares changing hands. The stock had previously closed at $47.97.

Analysts Set New Price Targets

Several research firms have recently weighed in on CPRT. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Trading Up 0.2%

The firm has a market capitalization of $46.65 billion, a P/E ratio of 31.74 and a beta of 1.10. The stock's 50-day simple moving average is $55.88 and its 200-day simple moving average is $56.70.

Copart (NASDAQ:CPRT - Get Free Report) 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. Copart had a net margin of 32.21% and a return on equity of 18.20%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $0.39 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Copart

Several hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Copart during the fourth quarter valued at approximately $264,000. Cavalier Investments LLC increased its holdings in shares of Copart by 4.3% in the 4th quarter. Cavalier Investments LLC now owns 51,917 shares of the business services provider's stock worth $2,980,000 after purchasing an additional 2,152 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Copart by 10.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 8,688 shares of the business services provider's stock worth $499,000 after buying an additional 809 shares during the last quarter. Finally, National Pension Service lifted its stake in Copart by 3.2% during the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after acquiring an additional 48,334 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Company Profile

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.