Copart (CPRT) Gains From Auction Locations Despite High Costs
Zacks Investment Research | Jan 01, 2019 08:12PM ET
On Dec 31, we issued an updated research report on Copart, Inc. (NASDAQ:CPRT) .
The Dallas, TX-based provider of online vehicle auctioning platform is adding auction locations, both organically and inorganically, to improve its network of facilities and drive sales. From the beginning of 2018 till Oct 31, the company opened 6 locations across Europe and the United States apart from acquiring companies with existing locations. Sufficient auction locations aid Copart to add more cars in inventories and sell those at auctions, thus, driving the company’s revenues.
Further, the company sees good growth opportunities in the European market, majorly across Germany and Western Europe. This impelled Copart to invest and add or open locations on this continent. In first-quarter fiscal 2019, it added six locations in Germany. During the same time frame, the company had fifteen locations in the United Kingdom. These locations are expected to aid the company’s growth in Europe’s competitive marketplace as well as drive its top line.
Copart, Inc. Price and Consensus
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