Market Runner: Could Copart, Inc. Lose its Strength? The Stock Reaches 52-Week High

Market Runner: Could Copart, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Copart, Inc. (NASDAQ:CPRT) hit a new 52-week high and has $92.32 target or 63.00% above today’s $56.64 share price. The 5 months bullish chart indicates low risk for the $6.54 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $92.32 price target is reached, the company will be worth $4.12B 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. About 368,255 shares traded hands. Copart, Inc. (NASDAQ:CPRT) has risen 32.32% since April 15, 2016 and is uptrending. It has outperformed by 27.70% the S&P500.

Copart, Inc. (NASDAQ:CPRT) Ratings Coverage

Out of 8 analysts covering Copart (NASDAQ:CPRT), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. Copart has been the topic of 12 analyst reports since January 15, 2016 according to StockzIntelligence Inc. The stock of Copart, Inc. (NASDAQ:CPRT) has “Mkt Perform” rating given on Friday, September 23 by Barrington Research. On Friday, May 27 the stock rating was maintained by Jefferies with “Hold”. The firm earned “Hold” rating on Tuesday, April 5 by Gabelli. The stock of Copart, Inc. (NASDAQ:CPRT) has “Neutral” rating given on Monday, March 21 by Bank of America. Jefferies initiated Copart, Inc. (NASDAQ:CPRT) on Friday, January 15 with “Hold” rating. The firm earned “Hold” rating on Monday, January 18 by Jefferies. Jefferies maintained the stock with “Hold” rating in Thursday, September 22 report. The rating was upgraded by Bank of America to “Buy” on Friday, September 23. JP Morgan maintained the shares of CPRT in a report on Friday, May 27 with “Neutral” rating. As per Friday, August 26, the company rating was initiated by Susquehanna.

According to Zacks Investment Research, “Copart, Inc. provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made.”

Insitutional Activity: The institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.09, from 0.82 in 2016Q1. The ratio is positive, as 19 funds sold all Copart, Inc. shares owned while 123 reduced positions. 53 funds bought stakes while 76 increased positions. They now own 87.56 million shares or 2.15% less from 89.49 million shares in 2016Q1.
Timber Hill Ltd Liability Company has 10,237 shares for 0% of their US portfolio. The Ontario – Canada-based 1832 Asset Mgmt Lp has invested 0% in Copart, Inc. (NASDAQ:CPRT). The Michigan-based Jlb Inc has invested 2.24% in Copart, Inc. (NASDAQ:CPRT). Parallax Volatility Advisers L P holds 0% of its portfolio in Copart, Inc. (NASDAQ:CPRT) for 14,716 shares. National Bank & Trust Of America Corporation De reported 1.02 million shares or 0.01% of all its holdings. First Quadrant Lp Ca accumulated 0.03% or 26,800 shares. First City Mngmt last reported 5,000 shares in the company. Brown Brothers Harriman & holds 0% of its portfolio in Copart, Inc. (NASDAQ:CPRT) for 245 shares. Sg Americas Securities Llc reported 29,108 shares or 0.01% of all its holdings. Tudor Inv Et Al reported 16,258 shares or 0.02% of all its holdings. Plante Moran Advisors Limited Liability holds 75 shares or 0% of its portfolio. Ubs Asset Mngmt Americas Inc reported 482,820 shares or 0.03% of all its holdings. Profund Ltd accumulated 15,019 shares or 0.04% of the stock. Manufacturers Life Insurance The accumulated 214,703 shares or 0.02% of the stock. Telemus Ltd Liability reported 121,224 shares or 0.74% of all its holdings.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 8 insider sales for $44.06 million net activity. 160,000 shares were sold by COHAN STEVEN D, worth $7.82M. ADAIR A JAYSON also sold $10.72 million worth of Copart, Inc. (NASDAQ:CPRT) on Thursday, September 22. Shares for $1.21 million were sold by Eldridge Sean. On Wednesday, October 12 MEEKS JAMES E sold $1.41M worth of the stock or 26,075 shares. $10.65 million worth of Copart, Inc. (NASDAQ:CPRT) was sold by MITZ VINCENT W. The insider FRANKLIN WILLIAM E sold 100,000 shares worth $5.29 million. Blunt Matt sold $3.48M worth of stock.

More notable recent Copart, Inc. (NASDAQ:CPRT) news were published by: Businesswire.com which released: “Copart, Inc. to Webcast First Quarter Fiscal 2017 Results” on November 15, 2016, also Prnewswire.com with their article: “Copart Announces the Expansion of Indianapolis Location” published on November 10, 2016, Prnewswire.com published: “Copart Opens Location in Sun Valley, California, Hosting Location’s First …” on November 03, 2016. More interesting news about Copart, Inc. (NASDAQ:CPRT) were released by: Fool.com and their article: “Copart, Inc Keeps Investing in Growth, Buying Back Shares” published on June 01, 2016 as well as Fool.com‘s news article titled: “Why Copart Inc. Stock Jumped Today” with publication date: May 26, 2016.

CPRT Company Profile

Copart, Inc. (Copart), incorporated on January 6, 2012, is a well-known provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Firm also provides vehicle remarketing services in Germany. The Firm operates through two divisions: United States and International. The Firm provides vehicle sellers with a range of services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3). It sells vehicles primarily to insurance companies, such as banks and financial institutions, charities, car dealerships, municipalities, fleet operators and vehicle rental companies. The Firm sells the vehicles principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters and, at certain locations, to the general public.

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