Copart (NASDAQ:CPRT) Sets New 52-Week Low - Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd.

Copart Stock Performance

The firm's 50-day moving average price is $53.03 and its 200 day moving average price is $55.68. The company has a market cap of $45.52 billion, a price-to-earnings ratio of 30.96 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Copart

Several hedge funds have recently added to or reduced their stakes in CPRT. Brighton Jones LLC lifted its stake in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after buying an additional 6,817 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Copart in the fourth quarter worth about $234,000. Independent Advisor Alliance increased its holdings in shares of Copart by 23.9% in the fourth quarter. Independent Advisor Alliance now owns 11,639 shares of the business services provider's stock worth $668,000 after acquiring an additional 2,246 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Copart by 22.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 20,196 shares of the business services provider's stock worth $1,159,000 after acquiring an additional 3,670 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Copart by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 157,258 shares of the business services provider's stock worth $9,025,000 after acquiring an additional 2,929 shares in the last quarter. Institutional investors and hedge funds 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.

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