Copart Inc. (CPRT - Free Report) announced the expansion of two locations in Arkansas. One is situated at Conway, near Little Rock, while the other at Prairie Grove, near Fayetteville.
Per Jay Adair, CEO, Copart, the expansion will enable the company utilize existing operations to store and sell more vehicles.
The hub of Conway, AR is located at 703 Main Street. Its online auctions are held at 12 pm CT, every Monday. Whereas, the online auctions of Prairie Grove, AR are held at the same time, every Wednesday. Its address is 5976 Bill Campbell Road.
Copart, Inc. Price and Consensus
The combined salvage and clean title vehicles of both the locations at AR is 1000 and all are up for bid.
Prior to this, the company announced expansion of sites at Candia, NH and West Warren, MA in July. (Read more: Copart on Firmer Footing With Candia-West Warren Expansion).
Copart currently expands network of facilities to manage increasing volumes. It is also exploring several new markets. In March, the company announced new locations at California, Utah and Florida. Earlier in February, the online vehicle auction provider publicized about extension plans at San Jose, CA as well as informed of opening a new one both at Illinois and Newbury, UK.
Copart’s shares have gained 6.8% in the last six months, outperforming the 3.8% increase of the industry it belongs to.
Zacks Rank & Key Picks
Copart currently carries a Zacks Rank #4 (Sell).
A few better-ranked automobile stocks are Allison Transmission Holdings Inc, (ALSN - Free Report) , Ferrari N.V. (RACE - Free Report) and Volkswagen AG (VLKAY - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has a long-term growth rate of 11%.
Ferrari has an expected long-term earnings growth rate of 14.1%.
Volkswagen has a long-term growth rate of 8.9%.
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