Copart (NASDAQ:CPRT) Stock Price Breaks Above 200 Day Moving Average - Should You Sell?

Shares of Copart, Inc. (NASDAQ:CPRT - Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $32.18 and traded as high as $32.69. Copart shares last traded at $32.45, with a volume of 8,520,363 shares traded.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Copart from $42.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday, September 3rd. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Barrington Research upgraded shares of Copart from a "market perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a report on Friday, September 11th. Finally, Barclays set a $25.00 price objective on shares of Copart and gave the company an "underweight" rating in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $37.90.

Copart Price Performance

The business has a 50 day moving average of $29.44 and a 200 day moving average of $32.18. The firm has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.60 and a beta of 1.01.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. Copart's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.63 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director Diane Morefield sold 20,000 shares of Copart stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the transaction, the director owned 50,000 shares of the company's stock, valued at $1,383,000. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Copart

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Copart in the 2nd quarter valued at $1,908,980,000. Bank of New York Mellon Corp bought a new stake in shares of Copart in the second quarter worth about $488,663,000. Deutsche Bank AG bought a new stake in shares of Copart in the second quarter worth about $436,413,000. Bank of America Corp DE increased its holdings in shares of Copart by 28.7% in the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider's stock worth $322,256,000 after acquiring an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Copart by 97.9% in the second quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider's stock worth $255,381,000 after acquiring an additional 4,482,226 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

About Copart

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.

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