Copart (CPRT) Expands West Warren Site in Massachusetts

Copart, Inc. CPRT has reported the 22-acre expansion of its location at West Warren, MA. Per management, the increased capacity at Copart’s West Warren location will aid the company in meeting customer requirements as well as address any future need of its clients. Earlier to this, in July 2017, the company announced the initial expansion of the West Warren site.

Online auctions at the West Warren location are held every Wednesday at 10 a.m. CT. Buyers can participate in the inventory bidding through computers, tablets and smartphones. Moreover, during the business hours, bidding kiosks can be accessed at the hub.

Copart, in June 2018, announced the addition of a facility at Lumberton, NC. This site functions as a disaster-response facility and stores vehicles that are damaged in natural calamities at the North Atlantic coastline.

Copart, Inc. Price and Consensus

 

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

The company has been expanding its network of facilities to manage the rising volume. It is also widening its base in new markets. Apart from the United States, it has also been focusing on expanding in the Middle East, Europe, Brazil and India.

Copart engages in online auctioning of vehicles. It sells vehicles on behalf of insurance companies, finance companies, banks, dealers and fleet operators. It operates in more than 200 locations in 11 countries.

Price Performance

In the past six months, Copart’s stock has gained 30.9%, outperforming 20.8% increase recorded by the industry it belongs to.

 

Zacks Rank & Key Picks

Copart currently sports a Zacks Rank #3 (Hold). Some better-ranked stocks in the auto space are Honda Motor Co., Ltd. HMC, PACCAR Inc. PCAR and Allison Transmission Holdings, Inc. ALSN. Honda and PACCAR presently carry a Zacks Rank #2 (Buy) while Allison Transmission sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Honda has an expected long-term growth rate of 3%. Shares of the company have risen 8.2% in the past year.

PACCAR has an expected long-term growth rate of 10.8%. Over a year, shares of the company have gained 4.3%.

Allison Transmission has an expected long-term growth rate of 10%. Over a year, shares of the company have gained 34%.

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