Copart Inc (CPRT)
Copart, Inc. or simply Copart is a global provider of online vehicle auction and remarketing services to automotive resellers such as insurance, rental car, fleet and finance companies in 11 countries: the US, Canada, the UK, Germany, Ireland, Brazil, Spain, Dubai, Bahrain, Oman and Finland.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 53.20% per annum.
- CPRT price at the close of May 17, 2024 was $54.50 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 32.53% per annum.
- CPRT price at the close of May 17, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CPRT price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: August 29, 2022
End date: May 16, 2024
a = 1.9431
b = 0.0012
s = 0.0563
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 53.20%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0563) – 1
= 25.23%
August 29, 2022 calculations
Top border of price channel:
Exp(Y826)
= Exp(a + b × X826 + 2 × s)
= Exp(a + b × 1,197 + 2 × s)
= Exp(1.9431 + 0.0012 × 1,197 + 2 × 0.0563)
= Exp(3.4546)
= $31.65
Bottom border of price channel:
Exp(Y826)
= Exp(a + b × X826 – 2 × s)
= Exp(a + b × 1,197 – 2 × s)
= Exp(1.9431 + 0.0012 × 1,197 – 2 × 0.0563)
= Exp(3.2296)
= $25.27
May 16, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,823 + 2 × s)
= Exp(1.9431 + 0.0012 × 1,823 + 2 × 0.0563)
= Exp(4.1862)
= $65.77
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,823 – 2 × s)
= Exp(1.9431 + 0.0012 × 1,823 – 2 × 0.0563)
= Exp(3.9612)
= $52.52
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 53.20% per annum.
- CPRT price at the close of May 17, 2024 was $54.50 and was inside the primary price channel.
Secondary Trend
Start date: May 10, 2023
End date: May 17, 2024
a = 2.6047
b = 0.0008
s = 0.0414
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 32.53%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0414) – 1
= 18.00%
May 10, 2023 calculations
Top border of price channel:
Exp(Y1,001)
= Exp(a + b × X1,001 + 2 × s)
= Exp(a + b × 1,451 + 2 × s)
= Exp(2.6047 + 0.0008 × 1,451 + 2 × 0.0414)
= Exp(3.8070)
= $45.02
Bottom border of price channel:
Exp(Y1,001)
= Exp(a + b × X1,001 – 2 × s)
= Exp(a + b × 1,451 – 2 × s)
= Exp(2.6047 + 0.0008 × 1,451 – 2 × 0.0414)
= Exp(3.6415)
= $38.15
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(2.6047 + 0.0008 × 1,824 + 2 × 0.0414)
= Exp(4.0948)
= $60.03
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.6047 + 0.0008 × 1,824 – 2 × 0.0414)
= Exp(3.9294)
= $50.87
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 32.53% per annum.
- CPRT price at the close of May 17, 2024 was inside the secondary price channel.