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Copart Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Shares of Copart Inc (NASDAQ:CPRT) traded at a new 52-week high today of $58.24. This new high was reached on below average trading volume as 102,000 shares traded hands, while the average 30-day volume is approximately 2.2 million shares.

Copart, Inc. provides vehicle suppliers, primarily insurance companies, with a variety of services to process and sell salvage vehicles through auctions. Salvaged vehicles are primarily sold to licensed dismantlers, rebuilders, and used vehicle dealers.

Based on a current price of $57.94, Copart Inc is currently 7.0% above its average consensus analyst price target of $53.86. Copart Inc shares have support at the 50-day moving average (MA) of $53.26 and additional support at the 200-day MA of $44.05.

In the past 52 weeks, Copart Inc share prices have been bracketed by a low of $30.30 and a high of $58.24 and are now at $57.94, 91% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Copart Inc on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.02. Since that recommendation, shares of Copart Inc have risen 28.0%. We continue to monitor CPRT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows copart inc

Ticker(s): CPRT