What Will Happen to Copart, Inc. (CPRT) Next? The Stock Just Reaches 52-Week High

March 13, 2018 - By Marie Mckinney

Investors sentiment decreased to 1.13 in 2017 Q3. Its down 8.13, from 9.26 in 2017Q2. It dived, as 27 investors sold Copart, Inc. shares while 108 reduced holdings. 58 funds opened positions while 95 raised stakes. 166.73 million shares or 50.62% less from 337.64 million shares in 2017Q2 were reported.
Legacy Private Com, Wisconsin-based fund reported 56,754 shares. 20,670 are held by Jacobs Levy Equity Management Inc. Cap Financial Advisers Limited Liability Company, a California-based fund reported 410,373 shares. Syntal Cap Ltd Liability Co holds 17,853 shares. Moreover, Old National Bancshares In has 0.02% invested in Copart, Inc. (NASDAQ:CPRT) for 11,810 shares. 141,546 are owned by Envestnet Asset Management. Moreover, Eqis has 0.04% invested in Copart, Inc. (NASDAQ:CPRT). Aqr Cap Ltd Liability invested in 0% or 56,852 shares. Oregon Pub Employees Retirement Fund reported 0.04% in Copart, Inc. (NASDAQ:CPRT). Raymond James Advsr Incorporated, Florida-based fund reported 15,840 shares. Bluecrest Management reported 0.01% in Copart, Inc. (NASDAQ:CPRT). The New York-based Metropolitan Life Insurance New York has invested 0.04% in Copart, Inc. (NASDAQ:CPRT). Profund Advsrs Ltd Liability Com holds 0.03% of its portfolio in Copart, Inc. (NASDAQ:CPRT) for 24,138 shares. California Employees Retirement Sys holds 0.03% or 604,962 shares in its portfolio. Public Employees Retirement Sys Of Ohio, Ohio-based fund reported 489,916 shares.

Since September 28, 2017, it had 0 insider purchases, and 3 sales for $15.31 million activity. The insider MEEKS JAMES E sold 160,000 shares worth $5.49M. MITZ VINCENT W also sold $6.86M worth of Copart, Inc. (NASDAQ:CPRT) shares.

The stock of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week high and has $55.27 target or 9.00 % above today’s $50.71 share price. The 7 months bullish chart indicates low risk for the $11.76 billion company. The 1-year high was reported on Mar, 13 by Barchart.com. If the $55.27 price target is reached, the company will be worth $1.06 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.78% or $0.4 during the last trading session, reaching $50.71. About 729,561 shares traded. Copart, Inc. (NASDAQ:CPRT) has risen 37.41% since March 13, 2017 and is uptrending. It has outperformed by 20.71% the S&P500.

Copart, Inc. (NASDAQ:CPRT) Ratings Coverage

Among 12 analysts covering Copart (NASDAQ:CPRT), 3 have Buy rating, 0 Sell and 9 Hold. Therefore 25% are positive. Copart had 28 analyst reports since January 15, 2016 according to SRatingsIntel. The firm has “Buy” rating given on Monday, February 26 by Robert W. Baird. Jefferies maintained it with “Hold” rating and $3300 target in Thursday, July 6 report. The rating was maintained by Stephens with “Hold” on Tuesday, January 16. As per Monday, February 26, the company rating was maintained by Jefferies. The firm has “Buy” rating by Bank of America given on Friday, September 23. The rating was initiated by Jefferies with “Hold” on Friday, January 15. The firm earned “Buy” rating on Tuesday, October 31 by Robert W. Baird. As per Tuesday, February 27, the company rating was maintained by Stephens. The stock of Copart, Inc. (NASDAQ:CPRT) has “Buy” rating given on Wednesday, November 22 by Robert W. Baird. On Friday, May 26 the stock rating was maintained by Jefferies with “Hold”.

More important recent Copart, Inc. (NASDAQ:CPRT) news were published by: Prnewswire.com which released: “Copart Acquires Nordic Salvage Auto Auction Company” on March 09, 2018, also Nasdaq.com published article titled: “Copart Inc. Announces Advance In Q2 Earnings”, Prnewswire.com published: “Free Research Reports on These Auto Dealerships Stocks — Cars.com, Carvana …” on March 05, 2018. More interesting news about Copart, Inc. (NASDAQ:CPRT) was released by: Businesswire.com and their article: “Copart Reports Second Quarter Fiscal 2018 Financial Results” with publication date: February 26, 2018.

Copart, Inc. provides online auctions and vehicle remarketing services. The company has market cap of $11.76 billion. 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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners. It has a 35.69 P/E ratio. The companyÂ’s services include online seller access, salvage estimation, estimating, end-of-life vehicle processing, virtual insured exchange, transportation, vehicle inspection stations, on-demand reporting, motor vehicle regulatory agency processing, flexible vehicle processing programs, buy it now, member network, sales process, and dealer services.

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