Copart (NASDAQ:CPRT) Hits New 52-Week Low - What's Next?

Shares of Copart, Inc. (NASDAQ:CPRT - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $47.69 and last traded at $48.01, with a volume of 368744 shares. The stock had previously closed at $47.97.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

Copart Price Performance

The firm's 50-day moving average price is $56.58 and its 200-day moving average price is $56.92. The company has a market cap of $46.14 billion, a price-to-earnings ratio of 31.56 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company 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%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. grew its stake in Copart by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock worth $19,494,000 after purchasing an additional 8,300 shares in the last quarter. National Pension Service increased its stake in Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after purchasing an additional 48,334 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Copart by 289.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock worth $1,970,000 after buying an additional 25,512 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Copart during the first quarter worth about $604,000. Finally, Tsai Capital Corp boosted its stake in Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after acquiring an additional 7,230 shares during the period. 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.