ADVFN - Advanced Financial Network.
HOME» NASDAQ » C » CPRT Stock Price » CPRT Stock News

Copart Share News

 Copart (mm) Stock Price
CPRT Stock Price
 Copart (mm) Stock Chart
CPRT Stock Chart
 Copart (mm) Stock News
CPRT Stock News
 Copart (mm) Company Information
CPRT Company Information
 Copart (mm) Stock Trades
CPRT Stock Trades

Copart Gains On Exclusive Allstate Contract

By Aja Carmichael Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Shares of Copart Inc. (CPRT) rose Tuesday after the car-auction company said it earned an exclusive national contract to be the salvage auction provider for auto insurer Allstate Corp. (ALL). Copart said the agreement with Allstate is poised to further establish its VB2 online-auction service, through which more than 7 million vehicles have been sold. Copart provides vehicle sellers with services to process and sell salvage vehicles. It uses its VB2 technology to remarket vehicles through Internet sales. CJS Securities analyst Robert Labick raised his rating on the stock to market outperform from market perform and called the deal a "big win" for Copart as the deal shifts all of Allstate's salvaged vehicles to the company. In recent trading, shares of Copart were up 4.9% to $35.36. The stock hit an intraday high of $35.58 and has risen 4.4% in the last three months. Meanwhile, shares of competitor KAR Auction Services Inc. (KAR) were down 2.8% to $14.35. Labick said Copart's deal provides incremental volume, which is the unit of salvaged vehicles auctioned, at time when volume in the industry is decreasing. He estimates that deal could add about 180,000 cars to Copart's volume, increasing its total volume by over 15%. He said the deal also suggests KAR Auction's Insurance Auto Auction business, which represents 35% of its total business, will decline. He added KAR Auction was already expecting modest growth in volume but with Copart's new partnership, it's believed that KAR Auction's will lose some business. Representatives from Copart and KAR Auction couldn't be reached for comment. -By Aja Carmichael, Dow Jones Newswires; 212-416-2187;

Stock News for Copart (CPRT)
12/01/201613:04:00Copart Announces Expansion of Newburgh, New York Location
11/30/201616:13:08Quarterly Report (10-q)
11/22/201606:02:18Current Report Filing (8-k)
11/21/201618:05:00Copart Reports First Quarter Fiscal 2017 Financial Results
11/17/201609:19:00Copart Announces Expansion of China Grove, North Carolina Location
11/15/201617:51:00Copart, Inc. to Webcast First Quarter Fiscal 2017 Results
11/14/201612:11:28Proxy Statement (definitive) (def 14a)
11/14/201609:56:13Annual Statement of Changes in Beneficial Ownership (5)
11/10/201611:40:00Copart Announces the Expansion of Indianapolis Location
11/03/201617:09:00Copart Opens Location in Sun Valley, California, Hosting Location's...
10/27/201614:47:00Copart Announces Land Expansion and Activation across Five States...
10/25/201616:47:57Statement of Changes in Beneficial Ownership (4)
10/25/201616:46:13Statement of Changes in Beneficial Ownership (4)
10/20/201617:28:45Proxy Statement - Notice of Shareholders Meeting (preliminary...
10/18/201617:06:32Statement of Changes in Beneficial Ownership (4)
10/14/201615:10:17Statement of Changes in Beneficial Ownership (4)
10/12/201614:46:07Current Report Filing (8-k)
09/30/201606:04:48Amended Statement of Beneficial Ownership (sc 13d/a)
09/28/201617:32:08Annual Report (10-k)
09/27/201619:33:41Statement of Changes in Beneficial Ownership (4)

Copart and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations