[May 20, 2013] Downgrade Alert for Copart (CPRT) Tweet May 20, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Copart (NASDAQ:CPRT) was downgraded from Buy to Neutral at Northcoast today. The stock closed yesterday at $38.09 on volume of 1.5 million shares, above average daily volume of 748,000. Copart (NASDAQ:CPRT) defies analysts with a current price ($37.45) 10.2% above its average consensus price target of $33.64. The stock should discover initial support at its 50-day moving average (MA) of $34.31 and subsequent support at its 200-day MA of $30.77. 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. Over the past year, Copart has traded in a range of $22.59 to $38.26 and is now at $37.45, 66% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.1%. SmarTrend recommended that subscribers consider buying shares of Copart on March 18th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.38. Since that recommendation, shares of Copart have risen 10.8%. We continue to monitor CPRT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]