Copart is a great company. Something to do with headlights dimming I think in the old days...
State Street Boston bought me this stock when I was under their care. Always a major player in car parts.
No I think you have the wrong company Stoney. Copart has always been in the auction business. Granted they started with salvage vehicles, but not in the sense of running a yard, they brokered them from insurance companies and then sold them to junkyards nationwide.
What people miss about this company,
its a technology company.
The guy that started it, (still there btw) saw the internet for what it would become early on.
He's basically the father of wholesale on-line vehicle auctions.
He changed the entire model.
They also own tons of real-estate, where they park all these cars in major metro areas.
Gross margins are north of 50%.
The stock's not cheap though. The pro's on the Street are well aware. 14X sales. Forward PE of about 38. That's up there. 83% institutional ownership and the rest is mostly insiders.
Thing is, when they report earnings, they are going to have comps that will look like SNAP or RBLX.
$146.
I say wait for dips. But get in before the ER.
$CPRT
$146