Copart (NASDAQ:CPRT) Reaches New 1-Year Low - Here's Why

Key Points

• Copart shares hit a new 52-week low, trading as low as $26.85 after falling about 1.5%, with the stock also sitting below both its 50-day and 200-day moving averages.
• Despite the weak share price, Copart’s latest quarterly results were solid: EPS of $0.43 beat estimates and revenue of $1.24 billion also topped forecasts, with revenue up 2.1% year over year.
• Wall Street sentiment is mixed but still constructive overall, with an average “Moderate Buy” rating and a consensus price target of $44.50, well above the current trading level.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPRT. Freedom Capital raised Copart to a "strong-buy" rating in a research note on Friday, June 26th. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $44.50.

Copart Trading Down 1.5%

The company's 50 day moving average is $30.61 and its 200-day moving average is $34.36. The company has a market capitalization of $25.07 billion, a P/E ratio of 16.81 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) 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. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Institutional Trading of Copart

A number of institutional investors and hedge funds have recently bought and sold shares of CPRT. Lodestone Wealth Management LLC purchased a new stake in shares of Copart during the fourth quarter valued at approximately $25,000. Aventura Private Wealth LLC purchased a new position in Copart in the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new position in Copart in the 4th quarter valued at approximately $34,000. Cache Advisors LLC bought a new position in Copart in the 1st quarter valued at approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

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.

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