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Copart (CPRT) Expands Online Auction Location at Louisiana

Zacks Equity Research
Updated

Copart, Inc. CPRT announced the recent extension of its location at northeast of Baton Rouge, LA. Address of the site is 21595 Greenwell Springs Road in Greenwell Springs, LA.

Per management, the expansion at Baton Rouge location will help the company increase its presence in south and offer more value to its customers. This strengthening of footprint in the south is followed by the widening of New Orleans base in September.

Online auctions at the Greenwell Springs location are held every Tuesday at noon CT. Buyers can participate in the auction through the company’s website or its application available on iOS and android devices. Also, during the business hours, bidding kiosks can be accessed at the hub.

Copart, Inc. Price and Consensus

 

Copart, Inc. Price and Consensus | Copart, Inc. Quote

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Strategically, this location expansion will benefit the company by placing it in close proximity to the hurricane-prone areas in the region.

Also, the extension will reinforce Copart to combat situations related to natural disasters in and around Louisiana, except dealing with the current product demand.

Prior to this, in November, the company announced the expansion of its Phoenix, AZ location.

Price Performance

In the last three months, shares of Copart have outperformed the industry it belongs to. The stock has surged 33.3% compared with the industry’s 19% rally during the period.

 



Zacks Rank & Other Key Picks

Copart sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space include BorgWarner Inc. BWA, Honda Motor Company HMC and Navistar International Corporation NAV, all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BorgWarner has an expected long-term growth rate of 8.6%. In the last three months, shares of the company have been up 4.8%.

Honda has an expected long-term growth rate of 3.8%. In the last three months, shares of the company have been up 14.4%.

Navistar has an expected long-term growth rate of 5%. Year to date, shares of the company have been up 28%.

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Honda Motor Company, Ltd. (HMC) : Free Stock Analysis Report
 
BorgWarner Inc. (BWA) : Free Stock Analysis Report
 
Navistar International Corporation (NAV) : Free Stock Analysis Report
 
Copart, Inc. (CPRT) : Free Stock Analysis Report
 
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