Copart had its Relative Strength (RS) Rating upgraded from 62 to 79 Monday — a welcome improvement, but still below the 80 or better score you prefer to see.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks often have an RS Rating of over 80 in the early stages of their moves. See if Copart can continue to show renewed price strength and hit that benchmark.
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Copart has risen more than 5% past a 58.58 entry in a second-stage consolidation, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -3% to 9%. Revenue rose from 7% to 12%.
Copart earns the No. 1 rank among its peers in the Retail/Wholesale-Auto industry group. Driven Brands and AutoZone are also among the group's highest-rated stocks.
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