Copart (NASDAQ:CPRT) Sets New 52-Week Low - Here's What Happened

Key Points

• Copart (NASDAQ:CPRT) has reached a new 52-week low at $44.63 during trading, with its previous close at $44.87 and a trading volume of 1,556,777 shares.
• Equities analysts have set varied price targets for Copart, with Stephens lowering their target to $46.00, while HSBC set a higher target of $62.00, indicating a consensus rating of "Moderate Buy."
• CEO Jeffrey Liaw and Director Thomas N. Tryforos have recently sold significant shares of Copart, with Liaw's sale representing a 43.31% decrease in his holdings.

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 $44.64 and last traded at $44.63, with a volume of 1556777 shares traded. The stock had previously closed at $44.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPRT shares. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. Robert W. Baird lowered their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 price target on Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Copart Trading Down 0.5%

The company has a market cap of $43.17 billion, a PE ratio of 27.93 and a beta of 1.03. The business has a 50 day simple moving average of $47.12 and a two-hundred day simple moving average of $51.90.

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

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CPRT. Cloud Capital Management LLC purchased a new position in shares of Copart in the 1st quarter worth $26,000. Atticus Wealth Management LLC purchased a new position in shares of Copart in the 2nd quarter worth $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart in the 2nd quarter worth $31,000. Creekmur Asset Management LLC raised its position in shares of Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider's stock worth $31,000 after buying an additional 574 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Copart in the 1st quarter worth $36,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

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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