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Getting Ahead Of Itself: Reevaluating Copart's Economic Exposure

Aug. 22, 2023 11:56 AM ETCopart, Inc. (CPRT)RBA, RBA:CA1 Comment


  • Copart's equity has performed well but has seen its earnings multiple significantly expand.
  • New industry reports show the secular trends are still holding strong and present more relevant statistics and data points.
  • I reevaluate Copart's exposure to the automotive market given unique inflationary and deflationary market forces.
  • I recommend waiting until the market presents a better opportunity to accumulate a stake in Copart.

Car Insurance

sefa ozel/iStock via Getty Images

Since I last wrote about Copart (NASDAQ:CPRT), the company's equity had quite a run, now up ~45% YTD.

While I still stand by every point I made in my deep-dive analysis, every business, no matter how

This article was written by

Value-Focused equity research in long-only opportunities. Most experienced in TMT but sector agnostic. While finding true value in mispriced securities is what I look for most, wide moats can sometime provide more confidence than discounted valuations. I broadly focus on what falls between these two categories.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (1)

Wow, two articles in one day on Copart!

I think the multiple expansion also has to do with people finally realizing what a great business this is and willing to pay more for it.
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