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Downgrade Alert for Copart (CPRT)
[February 01, 2013]

Downgrade Alert for Copart (CPRT)

Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Copart (NASDAQ:CPRT) was downgraded from Buy to Hold at BB&T Capital today. The stock closed yesterday at $35.91 on volume of 5.5 million shares, above average daily volume of 561,000. 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 share prices have moved between a 52-week high of $37.47 and a 52-week low of $22.58 and closed yesterday at 59% above that low price at $35.91 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.3%.

Copart (NASDAQ:CPRT) defies analysts with a current price ($35.91) 15.9% above its average consensus price target of $30.21. The stock should discover initial support at its 50-day moving average (MA) of $30.86 and subsequent support at its 200-day MA of $27.29.

SmarTrend recommended that subscribers consider buying shares of Copart on July 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.87. Since that recommendation, shares of Copart have risen 44.4%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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