Copart (NASDAQ:CPRT) Reaches New 12-Month Low - Here's Why

Copart, Inc. (NASDAQ:CPRT - Get Free Report)'s share price hit a new 52-week low on Wednesday . The stock traded as low as $59.46 and last traded at $61.03, with a volume of 4199547 shares trading hands. The stock had previously closed at $60.51.

Analyst Ratings Changes

Separately, Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Price Performance

The business's fifty day simple moving average is $56.64 and its 200 day simple moving average is $57.33. The stock has a market cap of $59.14 billion, a price-to-earnings ratio of 41.09 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 over the last ninety days. Company insiders own 9.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CPRT. Sandy Spring Bank boosted its position in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the period. Cloud Capital Management LLC bought a new stake in Copart during the 1st quarter valued at $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Copart in the fourth quarter worth $45,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Copart by 51.3% in the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock worth $51,000 after purchasing an additional 281 shares in the last quarter. 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.