Brokerages expect that Copart, Inc. (NASDAQ:CPRT) will report sales of $506.95 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Copart’s earnings, with the highest sales estimate coming in at $516.72 million and the lowest estimate coming in at $500.32 million. Copart reported sales of $449.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The business is scheduled to issue its next quarterly earnings report on Wednesday, September 18th.
On average, analysts expect that Copart will report full year sales of $2.01 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.02 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.19 billion, with estimates ranging from $2.15 billion to $2.25 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Copart.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The company had revenue of $553.12 million during the quarter, compared to analysts’ expectations of $535.62 million. During the same quarter in the prior year, the company earned $0.52 EPS. Copart’s revenue was up 15.7% compared to the same quarter last year.
Several research firms have recently weighed in on CPRT. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, May 27th. Barrington Research reissued a “hold” rating on shares of Copart in a research note on Friday, May 24th. SunTrust Banks increased their price target on shares of Copart to $78.00 and gave the company a “buy” rating in a research note on Friday, May 24th. BidaskClub cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Guggenheim cut shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target for the company. in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.77.
In other news, CEO A Jayson Adair sold 43,997 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $74.72, for a total value of $3,287,455.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $71.00, for a total transaction of $3,550,000.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $3,550,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 423,458 shares of company stock worth $31,198,755. Company insiders own 15.99% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wesbanco Bank Inc. lifted its position in Copart by 1.3% in the first quarter. Wesbanco Bank Inc. now owns 11,975 shares of the business services provider’s stock worth $725,000 after purchasing an additional 155 shares during the period. World Asset Management Inc grew its stake in Copart by 1.4% in the second quarter. World Asset Management Inc now owns 13,060 shares of the business services provider’s stock valued at $976,000 after acquiring an additional 178 shares during the period. ETF Managers Group LLC grew its stake in Copart by 6.5% in the second quarter. ETF Managers Group LLC now owns 2,992 shares of the business services provider’s stock valued at $219,000 after acquiring an additional 182 shares during the period. Keybank National Association OH grew its stake in Copart by 1.3% in the first quarter. Keybank National Association OH now owns 17,829 shares of the business services provider’s stock valued at $1,080,000 after acquiring an additional 225 shares during the period. Finally, Hartford Investment Management Co. grew its stake in Copart by 1.0% in the second quarter. Hartford Investment Management Co. now owns 22,136 shares of the business services provider’s stock valued at $1,654,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Shares of Copart stock traded up $0.24 during mid-day trading on Thursday, hitting $74.55. The stock had a trading volume of 1,123,900 shares, compared to its average volume of 1,300,093. The firm has a 50-day moving average of $76.38 and a two-hundred day moving average of $66.92. Copart has a 12-month low of $44.61 and a 12-month high of $79.74. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.03 billion, a P/E ratio of 43.09, a price-to-earnings-growth ratio of 1.50 and a beta of 0.82.
Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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