Equities research analysts predict that Copart, Inc. (NASDAQ:CPRT) will report sales of $506.95 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Copart’s earnings. The highest sales estimate is $516.72 million and the lowest is $500.32 million. Copart reported sales of $449.22 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The firm is scheduled to announce its next earnings report on Wednesday, September 18th.
According to Zacks, analysts expect that Copart will report full-year sales of $2.01 billion for the current year, with estimates ranging from $2.00 billion to $2.02 billion. For the next year, analysts anticipate that the business will report sales of $2.19 billion, with estimates ranging from $2.15 billion to $2.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Copart.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.05. The firm had revenue of $553.12 million during the quarter, compared to analyst estimates of $535.62 million. Copart had a return on equity of 31.33% and a net margin of 28.12%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share.
CPRT has been the subject of a number of research analyst reports. Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research report on Friday, May 17th. Barrington Research restated a “hold” rating on shares of Copart in a research report on Friday, May 24th. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, May 27th. SunTrust Banks raised their price objective on Copart to $78.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.77.
In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $71.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the completion of the transaction, the insider now owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,458 shares of company stock valued at $31,198,755. 15.99% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the business. Wesbanco Bank Inc. boosted its position in shares of Copart by 1.3% during the first quarter. Wesbanco Bank Inc. now owns 11,975 shares of the business services provider’s stock valued at $725,000 after buying an additional 155 shares during the period. World Asset Management Inc raised its stake in shares of Copart by 1.4% during 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 in the last quarter. ETF Managers Group LLC raised its stake in shares of Copart by 6.5% during 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 in the last quarter. Keybank National Association OH raised its stake in shares of Copart by 1.3% during 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 in the last quarter. Finally, Hartford Investment Management Co. raised its stake in shares of Copart by 1.0% during 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 in the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
Shares of Copart stock traded up $0.24 during trading on Thursday, reaching $74.55. 1,123,900 shares of the stock traded hands, compared to its average volume of 1,300,093. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 43.09, a P/E/G ratio of 1.50 and a beta of 0.82. The business has a fifty day simple moving average of $76.38 and a two-hundred day simple moving average of $66.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. Copart has a 52-week low of $44.61 and a 52-week high of $79.74.
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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