Equities analysts expect Copart, Inc. (NASDAQ:CPRT) to report earnings per share of $0.47 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Copart’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.49. Copart posted earnings per share of $0.35 during the same quarter last year, which would indicate a positive year over year growth rate of 34.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, September 18th.
According to Zacks, analysts expect that Copart will report full-year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.75 to $1.81. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.14 per share, with EPS estimates ranging from $2.05 to $2.29. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Copart.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. Copart had a return on equity of 31.21% and a net margin of 21.81%. The firm had revenue of $478.20 million during the quarter, compared to analysts’ expectations of $434.74 million. During the same period in the prior year, the company earned $0.38 earnings per share.
Several equities research analysts have weighed in on the company. Gabelli restated a “hold” rating on shares of Copart in a research note on Friday, May 25th. BidaskClub upgraded Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Monday, May 28th. Finally, ValuEngine upgraded Copart from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.38.
In related news, insider William E. Franklin sold 90,000 shares of the firm’s stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $58.94, for a total transaction of $5,304,600.00. Following the completion of the transaction, the insider now directly owns 107,462 shares of the company’s stock, valued at approximately $6,333,810.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William E. Franklin sold 100,000 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $57.52, for a total value of $5,752,000.00. The disclosure for this sale can be found here. Insiders sold a total of 640,000 shares of company stock valued at $36,991,100 over the last quarter. 16.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CPRT. Cornerstone Advisors Inc. grew its holdings in Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after acquiring an additional 926 shares during the period. First Republic Investment Management Inc. grew its holdings in Copart by 10.1% during the 1st quarter. First Republic Investment Management Inc. now owns 10,111 shares of the business services provider’s stock worth $515,000 after acquiring an additional 931 shares during the period. Navellier & Associates Inc grew its holdings in Copart by 3.4% during the 1st quarter. Navellier & Associates Inc now owns 30,400 shares of the business services provider’s stock worth $1,548,000 after acquiring an additional 994 shares during the period. Hanseatic Management Services Inc. grew its holdings in Copart by 3.1% during the 1st quarter. Hanseatic Management Services Inc. now owns 33,749 shares of the business services provider’s stock worth $1,719,000 after acquiring an additional 1,017 shares during the period. Finally, MetLife Investment Advisors LLC grew its holdings in Copart by 0.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 127,008 shares of the business services provider’s stock worth $7,184,000 after acquiring an additional 1,052 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.
NASDAQ CPRT traded up $0.69 on Monday, hitting $61.67. 1,076,200 shares of the company’s stock were exchanged, compared to its average volume of 1,893,358. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 2.27. Copart has a 52 week low of $31.14 and a 52 week high of $62.22. The stock has a market capitalization of $13.99 billion, a PE ratio of 47.81, a PEG ratio of 1.22 and a beta of 0.92.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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