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

Shares of Copart, Inc. (NASDAQ:CPRT - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $47.05 and last traded at $47.42, with a volume of 1083714 shares trading hands. The stock had previously closed at $47.46.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of analyst reports. 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. Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.

Copart Stock Performance

The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 30.40 and a beta of 1.07. The business has a 50 day simple moving average of $52.15 and a 200-day simple moving average of $55.47.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company's revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred 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 owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Copart

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. Edgewood Management LLC raised its holdings in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors raised its holdings in shares of Copart by 0.8% in the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after purchasing an additional 169,354 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after purchasing an additional 408,677 shares during the period. Hedge funds and other 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.