Copart (NASDAQ:CPRT) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Copart, Inc. (NASDAQ:CPRT)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $54.57 and traded as high as $58.01. Copart shares last traded at $56.32, with a volume of 5,589,617 shares changing hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

The firm has a market cap of $54.83 billion, a P/E ratio of 40.08 and a beta of 1.31. The stock’s 50-day moving average price is $58.44 and its 200 day moving average price is $54.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 364,733 shares of company stock valued at $22,932,130. Insiders own 9.68% of the company’s stock.

Hedge Funds Weigh In On Copart

Several large investors have recently modified their holdings of the stock. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank bought a new position in Copart during the 3rd quarter worth $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter worth $29,000. Meeder Asset Management Inc. boosted its position in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Copart in the third quarter valued at about $33,000. 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.