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Stock impact report

Copart's Fall: Big Overreaction, Big Opportunity [Seeking Alpha]

KAR Auction Services, Inc (KAR) 
Last kar auction services, inc earnings: 2/18 05:00 pm Check Earnings Report
Company Research Source: Seeking Alpha
Summary Over the last six weeks, Copart is down 30 percent from its all-time high of $67 a share. The decline seems to have been triggered by the Q4 earnings miss, but non-recurring events explain the shortfall. Copart performed strongly across the board on all other metrics. The whims of Mr. Market provide a very good opportunity to pick up undervalued shares of this compounding machine. Over the last six weeks, $5 billion has been erased from Copart's ( CPRT ) market capitalization - a 30 percent decline from the company's September peak of $67 a share. The plunge makes absolutely no sense. The main trigger for the sell-off appears to have been Copart's fourth quarter earnings miss; the company reported adjusted earnings of $102 million, nearly 13 percent below Wall Street's expectation of $116 million. However, this discrepancy is due to non-recurring events. On every metric except for the bottom line, Copart performed spectacularly. The inexplicable st Show less Read more
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