Copart is an online vehicle auction and vehicle remarketing business. Its major customers include rental companies, insurance companies, fleet operators, and car dealerships. On the buy side, Copart caters to retail buyers, vehicle importers, vehicle rebuilders, and dismantlers. The company benefits from network effects of having buyers and a wide selection of vehicles. Having parking lots to hold a large inventory in key urban pockets is also another source of competitive advantage for Copart. If you are looking to buy now business stock, then companies like Copart may present a decent value proposition.
The History of Copart Inc
Copart Inc is not a very old company. It was founded in the year 1982 by Willis Johnson. Mr. Johnson was 34-years old at the time and had around 10 years of experience in the auto salvage business. Copart had four locations in northern California in the 1990s. The initial expansion of the business was done through private loans and equity. One key milestone moment came around 1994 when the company acquired North Texas Salvage Pool of Dallas, which was the largest volume seller of salvage in the US. Copart went public in 1994 and was listed on the NASDAQ stock exchange under the ticker symbol CPRT. The IPO share price was $12. The company has been expanding nationally since the 1990s and it has also invested significantly in its online auction system. Building out its auction system has helped the company expand internationally in 11 countries. Today, Copart is a leading vehicle auction and remarketing company. It is also regarded well among specialty business stocks available currently.
Buy Now Business Stock
Copart’s stock last traded at $138.49 on 9th July 2021. The stock was up a significant 11.7% over a 1-month period. Its P/E ratio was a shade above 39 while the 52-week high was $139.13. The stock price on 9th July was close to this 52-week high.
