Copart is trading 4.2% down now at $29.54 after HSBC downgraded the company from Buy to Hold on September 17, 2026, citing weaker U.S. insurance volumes and slowing selling-price growth.
- HSBC assigned a $36 price target.
- The decline is company-specific: broader markets and consumer discretionary stocks are rallying while Copart falls sharply.
- ACV tender-offer commencement was also announced but does not explain the negative reaction.