Monday, 30 October 2017 07:50 AM
Research Desk Line-up: Penske Automotive Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines Copart, Inc. (NASDAQ: CPRT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CPRT. The Company announced on October 27, 2017, the recent 19-acre expansion of its Memphis, Tennessee location at 5545 Swinnea Road, where nearly 2,000 vehicles are up for bid. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Auto Dealership industry. Pro-TD has currently selected Penske Automotive Group, Inc. (NYSE: PAG) for due-diligence and potential coverage as the Company announced on October 25, 2017, its financial results for Q3. Tune in to our site to register for a free membership, and be among the early birds that get our report on Penske Automotive when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CPRT; also brushing on PAG. Go directly to your stock of interest and access today's free coverage at:
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Expansions Allow to Efficiently Meet Total Loss Demands of Insurance Customers
Jay Adair, Chief Executive Officer (CEO) of Copart, stated that this year, the Company has announced an unprecedented number of land expansions. With existing locations and operations around the nation, these expansions allow the Company to continue to efficiently meet the total loss demands of its insurance customers. Its Memphis expansion is no exception.
Copart's Series of Land Expansions in 2017
- On October 11, 2017, Copart expanded its Reno, Nevada location. On September 05, 2017, Copart expanded its footprint in Ham Lake, Minnesota, near northern Minneapolis. It also announced the expansion of its New Orleans, Louisiana location at 14600 Old Gentilly Road, in September 2017.
- Copart opened a new location at 1975 South West 860 in Andrews, Texas on August 14, 2017. On August 22, 2017, the Company expanded its two Arkansas locations, one in Conway, near Little Rock, and one in Prairie Grove, near Fayetteville.
- In July 2017, Copart expanded its footprints its locations in Candia, New Hampshire, and West Warren, Massachusetts. Copart expanded its location in Ebensburg, Pennsylvania, near Altoona on May 10, 2017.
- On June 01, 2017, the Company announced the expansion of its location in Eight Mile, Alabama, near Mobile. In April 2017, Copart opened its sixth Brazil location. The Betim, Minas Gerais location offers a wide selection of salvage and used vehicles.
- In March 2017, the Company opened its second location in Utah, and its 15th location in California, and also announced the addition of its Okeechobee, Florida location.
- In February 2017, Copart opened its fifth location in Illinois, and its 15th location in the United Kingdom. It also expanded its San Jose, California location.
- In January 2017, Copart expanded its Orlando North location in Apopka, Florida. The Company also expanded its San Diego and Chicago North location. Copart also announced the addition of locations in Casper, Wyoming, and Littleton, Colorado, along with the expansion of its location in Springfield, Missouri in the same month.
About Copart, Inc.
Founded in 1982, Copart is a global leader in online vehicle auctions, and a premier destination for the resale and remarketing of vehicles. The Company's innovative technology and online auction platform links buyers and sellers around the world. Headquartered in Dallas, Texas, it currently operates more than 200 locations in 11 countries, and has over 125,000 vehicles up for auction every day.
Last Close Stock Review
At the closing bell, on Friday, October 27, 2017, Copart's stock slightly slipped 0.08%, ending the trading session at $35.88. A total volume of 2.21 million shares have exchanged hands, which was higher than the 3-month average volume of 1.10 million shares. The Company's stock price soared 13.94% in the last three months, 17.10% in the past six months, and 38.67% in the previous twelve months. Moreover, the stock surged 29.51% since the start of the year. The stock is trading at a PE ratio of 21.59 and currently has a market cap of $8.29 billion.
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SOURCE: Pro-Trader Daily