Why Copart, Inc. (CPRT) is a Top Momentum Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Copart, Inc. (CPRT)
Based in Dallas, TX, Copart, Inc. was founded in 1982. The company provides online auctions and a wide range of remarketing services to process and sell salvage and clean-title vehicles. This is done mainly over the Internet, through its Virtual Bidding Third Generation (VB3) Internet auction-style sales technology. Sellers are primarily insurance companies, banks and financial institutions, charities, car dealerships, fleet operators and vehicle rental companies. Buyers include licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters, along with the general public.
CPRT is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 3.8% over the past one week and up 4.9% over the past four weeks. CPRT has gained 51.9% in the last one-year period as well. Looking at trading volume, an average of 4,438,648.50 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for CPRT, while the Zacks Consensus Estimate has increased $0.03 to $1.45 per share. CPRT also boasts an average earnings surprise of 10.3%.
CPRT should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Copart, Inc. (CPRT) : Free Stock Analysis Report
