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Recent 52-Week High Exceeded in Shares of Copart Inc (CPRT)

By Amy Schwartz

Shares of Copart Inc (NASDAQ:CPRT) traded at a new 52-week high today of $32.94. Approximately 102,000 shares have changed hands today, as compared to an average 30-day volume of 545,000 shares.

Over the past year, Copart Inc has traded in a range of $22.98 to $32.94 and is now at $32.88, 43% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

Copart Inc (NASDAQ:CPRT) defies analysts with a current price ($32.88) 1.2% above its average consensus price target of $32.50. The stock should discover initial support at its 50-day moving average (MA) of $29.86 and subsequent support at its 200-day MA of $27.34.

SmarTrend recommended that subscribers consider buying shares of Copart Inc on May 26th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.30. Since that recommendation, shares of Copart Inc have risen 4.5%. 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