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Copart on Firmer Footing With Candia-West Warren Expansion

Copart Inc. CPRT has announced the extension of its sites at Candia, NH and West Warren, MA. These locations hold online car auctions, available through tablets, computers and various mobile devices. Also, bidding kiosks are present at these hubs.

Daytime online auctions in Candia are held at 10 a.m. ET, every Tuesday, while West Warren’s at the same time, every Wednesday. The company also hosts evening auctions, known as “Night Cap Sales”, continuing from each Monday to Thursday. Inventories of both the locations are exhibited in the Eastern Region auctions held at 9 p.m. ET.

Addresses for Candia and West Warren are 134 Raymond Road and 600 Old West Warren Road, respectively.

Per Jay Adair, CEO, Copart, this new development will enable the company to offer better services to its customers.

Copart currently focuses on expanding its network of facilities to manage increasing volumes. Thriving on its business, it is also emerging into several other new markets. In Jun 2017, the company extended its location in Mobile, AL. Previously in Mar 2017, the company announced new locations at California, Utah and Florida. Apart from the U.S., it has been focusing on branching in the Middle East over the last few years.

Price Performance

Copart’s shares have outperformed the Zacks categorized Auction and Valuation Services industry in the last six months. The stock has increased 9.2% compared with the industry’s gain of 7.4%.

Zacks Rank & Key Picks

Copart currently carries a Zacks Rank #3 (Hold).

Copart, Inc. Price and Consensus

Some better-ranked companies in the auto space include Allison Transmission Holdings Inc. ALSN, Volkswagen AG VLKAY and Daimler AG DDAIF, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Expected long-term growth rate for Allison Transmission, Volkswagen and Daimler are 11%, 17.5% and 2.8%, respectively.

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