The stock of Copart, Inc. (NASDAQ:CPRT) reached all time high today, Nov, 14 and still has $67.87 target or 23.00% above today’s $55.18 share price. This indicates more upside for the $6.40B company. This technical setup was reported by Barchart.com. If the $67.87 PT is reached, the company will be worth $1.47 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 2.05% or $1.11 during the last trading session, hitting $55.18. About 668,786 shares traded hands or 5.50% up from the average. Copart, Inc. (NASDAQ:CPRT) has risen 29.94% since April 12, 2016 and is uptrending. It has outperformed by 24.96% 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 company was initiated on Monday, January 18 by Jefferies. As per Thursday, August 25, the company rating was downgraded by Northcoast. The stock of Copart, Inc. (NASDAQ:CPRT) has “Neutral” rating given on Monday, March 21 by Bank of America. As per Thursday, September 22, the company rating was maintained by Jefferies. The stock has “Buy” rating given by Bank of America on Friday, September 23. The company was upgraded on Thursday, February 25 by CL King. The firm has “Hold” rating by Jefferies given on Friday, May 27. Susquehanna initiated Copart, Inc. (NASDAQ:CPRT) rating on Friday, August 26. Susquehanna has “Neutral” rating and $53 price target. The stock has “Mkt Perform” rating given by Barrington Research on Friday, September 23. JP Morgan maintained Copart, Inc. (NASDAQ:CPRT) on Friday, May 27 with “Neutral” rating.
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 Q2 2016. Its up 0.09, from 0.82 in 2016Q1. The ratio improved, 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.
Conestoga Cap Advsrs Ltd Com owns 18,151 shares or 0.07% of their US portfolio. Moreover, Cantab Capital Ptnrs Llp has 0% invested in Copart, Inc. (NASDAQ:CPRT) for 14,400 shares. The Georgia-based Chatham Group Inc has invested 0.67% in Copart, Inc. (NASDAQ:CPRT). Knightsbridge Asset accumulated 6.85% or 148,650 shares. Shelton Management reported 10,892 shares or 0.05% of all its holdings. Boston Limited Co holds 0.24% or 198,370 shares in its portfolio. Liberty Mutual Grp Inc Asset Incorporated, a Massachusetts-based fund reported 44,243 shares. Prudential Financial Inc last reported 62,159 shares in the company. Independent Portfolio Consultants accumulated 4,655 shares or 0.07% of the stock. Moreover, Whittier Of Nevada has 0% invested in Copart, Inc. (NASDAQ:CPRT) for 130 shares. Mig Capital Lc has 789,538 shares for 8.41% of their US portfolio. Stephens Incorporated Ar accumulated 9,183 shares or 0.02% of the stock. Great West Life Assurance Can owns 11,357 shares or 0% of their US portfolio. Retirement Of Alabama accumulated 128,400 shares or 0.04% of the stock. Foundation Asset Ltd Partnership accumulated 17.33% or 1.06 million shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 8 sales for $44.06 million net activity. $3.47M worth of Copart, Inc. (NASDAQ:CPRT) was sold by MEEKS JAMES E on Friday, October 14. $10.72M worth of shares were sold by ADAIR A JAYSON on Thursday, September 22. The insider Eldridge Sean sold $1.21M. COHAN STEVEN D also sold $7.82M worth of Copart, Inc. (NASDAQ:CPRT) on Friday, May 27. Another trade for 65,000 shares valued at $3.48 million was sold by Blunt Matt. On Thursday, September 22 the insider MITZ VINCENT W sold $10.65 million. $5.29M worth of shares were sold by FRANKLIN WILLIAM E on Thursday, September 22.
More notable recent Copart, Inc. (NASDAQ:CPRT) news were published by: Fool.com which released: “Copart, Inc Keeps Investing in Growth, Buying Back Shares” on June 01, 2016, also Prnewswire.com with their article: “Copart Opens Location in Sun Valley, California, Hosting Location’s First …” published on November 03, 2016, Fool.com published: “Why Copart Inc. Stock Jumped Today” on May 26, 2016. More interesting news about Copart, Inc. (NASDAQ:CPRT) were released by: Prnewswire.com and their article: “Copart Announces Land Expansion and Activation across Five States in Response …” published on October 27, 2016 as well as Dallasnews.com‘s news article titled: “Copart Inc. acquires two more auction sites” with publication date: April 22, 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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