COPART (CPRT) Stocks
📊 Copart, Inc., a provider of online vehicle auction and re-marketing services, was incorporated on January 6, 2012 and has its headquarters in Dallas, Texas in the United States. The company offers vehicle sellers a variety of services to process and sell vehicles primarily over the Internet via its virtual bidding third-generation Internet auction-style technology (VB3).
📊 Vehicles are sold to insurance companies, charities, car dealerships, municipalities, fleet operators and vehicle rental companies.
📊 The company provides services in the U.S., Canada, the United Kingdom, the United Arab Emirates, Oman, Brazil, Bahrain, Brazil, Ireland, Spain, Finland and India. Copart’s buyers comprise used vehicle dealers, re-builders, dismantlers, exporters and the general public. The majority of the vehicles that the company sells on behalf of insurance companies are either damaged vehicles which are deemed a total loss, or recovered stolen vehicles for which and insurance settlement with the owner has already been made.
📊 Copart was founded by Willis J. Johnson in 1982. He began expanding the company in the early 1990s. By March 1994 Copart had added eight more new facilities and acquired the North Texas salvage Pool of Dallas, Texas, the largest volume seller of salvage in the U.S.
📊 Nowadays, Copart sells more than one million vehicles annually through VB technology. Today, the company employs approximately 6 000 people across its operations.
HISTORY OF COPART
- Copart, Inc. conducts its operations through two segments: United States and International. In the U.S., Canada, Brazil, the United Arab Emirates, Oman, Bahrain, Ireland, Spain and India, the company sells its vehicles as an agent and creates revenue from fees paid by vehicle sellers and buyers, as well as related fees for services such as storage. It also derives revenue in Germany and Spain from sales listing fees for listing vehicles for insurance companies.
- The company provides estimating services for vehicles taken to its facilities in the United Kingdom. These services provide repair estimates to insurance company sellers that allow them to determine if the vehicle is a total loss vehicle. If the vehicle is deemed a total loss, it is assigned to the Company to sell. It also offers transportation services in the U.K. through a combination of its fleet of more than 200 vehicles- and third-party vehicle transport companies.
- The company’s service offering portfolio comprise Online Seller Access, Salvage Estimation, Services, Estimating Services, End-Of-Life Vehicle Processing, Virtual Insured Exchange (VIX), Transportation Services, Vehicle Inspection Stations, On-Demand Reporting, Member Network and Sales Process, to name but a few.
- As of July 31, the company had 70 vehicle inspection stations at its facilities. Copart, Inc. also provides franchise and independent dealers with a method to sell their trade-ins through any of its facilities.
VISION & VALUES OF COPART
- Copart, Inc. regards its values as paramount to company life as they are woven into the fabric of its business operations. The company encourages its employees to share their innovative ideas and bring new products and processes.
- The latter enables growth and adds value for shareholders who purchase company shares. The company always acts with integrity and takes ownership of its decisions and actions.
MARKET PERFORMANCE OF COPART
- Copart, Inc.trades on the New York Stock Exchange (NYSE) under the stock symbol “CPRT”. The company is an S&P 500 component.
- The company’s total revenue for the 12 months ending April 30, 2019 was US$1.949 billion, which represents a 12.31% increase year-over-year. These healthy financials afford shareholders the confidence to buy or sell company shares in the expectation of solid dividends and returns.