EU and US could reach trade deal this weekend - Reuters
Shares of Copart Inc (NASDAQ:CPRT). (market cap: $45.89B) have reached a 52-week low, trading at $47.28, amid ongoing market volatility. InvestingPro analysis shows the company maintains robust financial health with a profit score of 4.13 out of 5. This new low underscores a challenging year for the company, with its stock experiencing a decline of 13.27% over the past year. Despite trading at a P/E ratio of 31, the company demonstrates solid fundamentals with 10.21% revenue growth and an impressive current ratio of 8.16. The downturn reflects broader market pressures and specific industry challenges impacting Copart, a leader in online vehicle auctions. Discover 12 more exclusive insights about CPRT with an InvestingPro subscription. Investors are closely monitoring the situation to assess potential recovery opportunities or further declines in the stock’s value, with comprehensive analysis available in the detailed Pro Research Report on InvestingPro.
In other recent news, Copart has reported its first-quarter 2025 earnings, with earnings per share (EPS) reaching $0.42, aligning with analyst forecasts. However, the company’s revenue of $1.21 billion fell short of the expected $1.23 billion, despite a 7.5% increase from the previous year. Service revenue saw a 9% rise, compensating for a 2% decline in vehicle sales revenue. Meanwhile, CFRA has upgraded Copart’s stock rating to Strong Buy, setting a price target of $70, citing the company’s growing net cash balance and a favorable outlook from the increasing average age of vehicles in the U.S.
JPMorgan, however, has adjusted its price target for Copart to $55 from $60, maintaining a Neutral rating due to concerns over the company’s growth trajectory. This adjustment follows a reported decline in U.S. insurance unit volumes, which were flat year-over-year, contrasting with a 7% increase reported by competitor IAA. Additionally, Stephens initiated coverage on Copart with an Equal Weight rating, pointing out high valuation and slowing profit growth as factors contributing to a challenging outlook over the next 12 to 24 months. The company also noted a decrease in U.S. inventory units, linked to lower assignments and faster cycle times, which could further pressure growth expectations.
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