Copart (CPRT) Announces Addition & Expansion of Locations

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Copart, Inc.CPRT has announced the addition of two locations and expansion of one. The company recently added location in Casper, WY and Littleton, CO. Casper is the company's first location in Wyoming while Littleton is the fourth location in Colorado. The rest of the three locations in Colorado were opened in 2016. Copart also announced the expansion of its location in Springfield, MO.

Copart is focused on expanding and adding new locations in the U.S. Wyoming is the 46th state where the company plans to start operating.

In Dec 2016, Copart announced the expansion of its location in Abilene, TX. The company has been witnessing strong growth in Texas which has encouraged it to expand its locations in Fort Worth, Houston and San Antonio, TX, earlier this year. Copart has also taken over Waco, Dallas South and CrashedToys Dallas locations in Texas this year. The company expects this expansion drive to complement its presence in Texas where it presently has operations in 15 locations.

In 2016, Copart added 10 new locations and expanded 13 existing locations across the country. The company also expanded internationally in the Republic of Ireland, Spain and Germany.

Additionally, Copart has been focused on expanding in the Middle East over the last few years. The UAE ranks second in the international market for cars sold from the company's North American yards.

Copart is a prominent player in online auctions and vehicle remarketing services in the U.S., Canada, U.K., UAE, Bahrain, India, Sultanate of Oman, Spain, Brazil, Germany, and the Republic of Ireland.



Price Performance

Copart's share price rose 5.1% in the last three months, reflecting strong results posted last quarter and several business initiatives including the expansion of network facilities and operations in the Middle East. Meanwhile, the Zacks categorized Auction/Valuation Services industry gained 1.7% over the same timeframe.

Zacks Rank & Other Key Picks

Copart currently sports a Zacks Rank #1 (Strong Buy).

Other favorably ranked companies in the auto space include The Goodyear Tire & Rubber Company GT , Modine Manufacturing Company MOD and GKN plc GKNLY .

Modine Manufacturing sports a Zacks Rank #1. The company has an expected earnings growth of around 11.2% for the current year. You can see the complete list of today's Zacks #1 Rank stocks here.

Goodyear Tire and GKN carry a Zacks Rank #2 (Buy). Goodyear Tire has a long-term growth rate of 17.2% while GKN has a long-term growth of 6.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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