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

Copart, Inc. (NASDAQ:CPRT)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $47.93 and last traded at $47.99, with a volume of 310381 shares. The stock had previously closed at $48.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPRT shares. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd.

Copart Stock Performance

The stock has a market capitalization of $46.30 billion, a P/E ratio of 31.50 and a beta of 1.10. The company’s fifty day simple moving average is $57.03 and its two-hundred day simple moving average is $57.19.

Copart (NASDAQ:CPRT) last released its quarterly 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 net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $0.39 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Western Pacific Wealth Management LP increased its holdings in shares of Copart by 6.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock worth $161,000 after purchasing an additional 173 shares during the period. HighPoint Advisor Group LLC increased its stake in Copart by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 175 shares during the last quarter. Blue Trust Inc. increased its stake in Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after acquiring an additional 175 shares during the last quarter. Sandy Spring Bank increased its stake in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in Copart by 3.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 184 shares during the last quarter. 85.78% of the stock is owned by 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.