5 Best Industrial Stocks to Buy Now

3. Copart Inc. (NASDAQ:CPRT)

No of HFs: 56

Total Value of HF Holdings: $1.07 Billion

CPRT is the 3rd best industrial stock to buy now. In Wedgewood Partners’ Q2 2020 investor letter they mentioned a few of their comments on the stock.

“Copart reported roughly flat revenues for its April ending quarter as the Company processed lower totaled automobile volumes at auction, likely due the decline in U.S. driving activity during COVID-19 stay at home orders. However, we believe U.S. driving activity bottomed sometime in mid-April and has recently returned to more normal levels, aided by a shift away from mass transit. We added to our Copart position as we think the market underestimates the recovery in auction volumes as a result of this rebound in U.S. driving activity.”