Copart (NASDAQ:CPRT) Reaches New 1-Year Low - Time to Sell?

Key Points

• Copart's stock has reached a new 52-week low of $44.13, marking a notable decline with recent trading prices around $44.23.
• Analysts have adjusted their price targets for Copart, with Robert W. Baird lowering it to $55.00 while HSBC rates it a "buy" at $62.00; the consensus target price is currently $54.50.
• Insider trading activity includes significant sales by Director Thomas N. Tryforos and CEO Jeffrey Liaw, indicating potential changes in leadership sentiment towards the stock.

Copart, Inc. (NASDAQ:CPRT - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $44.13 and last traded at $44.23, with a volume of 1579680 shares changing hands. The stock had previously closed at $45.11.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CPRT shares. Robert W. Baird cut their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Stephens lowered their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Copart in a research report on Saturday, September 27th. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.50.

Copart Stock Down 1.5%

The firm has a 50-day moving average price of $46.97 and a two-hundred day moving average price of $51.61. The firm has a market cap of $43.02 billion, a PE ratio of 27.78 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Copart

A number of large investors have recently added to or reduced their stakes in CPRT. GC Wealth Management RIA LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $219,000. Sowell Financial Services LLC purchased a new stake in Copart in the first quarter valued at approximately $604,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after purchasing an additional 8,181 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after acquiring an additional 297,210 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock valued at $234,000 after buying an additional 586 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

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.

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