Analysts expect Copart, Inc. (NASDAQ:CPRT) to post sales of $538.23 million for the current quarter, according to Zacks. Five analysts have made estimates for Copart’s earnings, with the lowest sales estimate coming in at $521.17 million and the highest estimate coming in at $570.30 million. Copart reported sales of $478.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.6%. The company is scheduled to announce its next earnings results on Wednesday, May 22nd.
On average, analysts expect that Copart will report full-year sales of $1.99 billion for the current year, with estimates ranging from $1.95 billion to $2.05 billion. For the next year, analysts forecast that the company will report sales of $2.17 billion, with estimates ranging from $2.10 billion to $2.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Copart.
Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, February 20th. The business services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $484.90 million during the quarter, compared to analysts’ expectations of $488.54 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share.
A number of analysts have recently commented on the stock. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 7th. ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. SunTrust Banks boosted their target price on shares of Copart to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Monday, February 4th. Finally, Barrington Research reissued a “hold” rating on shares of Copart in a research note on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.67.
Shares of CPRT stock traded up $0.51 on Wednesday, reaching $66.31. 774,300 shares of the company were exchanged, compared to its average volume of 1,270,363. The stock has a market capitalization of $15.01 billion, a P/E ratio of 38.33, a P/E/G ratio of 1.52 and a beta of 0.98. The company has a quick ratio of 1.61, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. Copart has a 1 year low of $44.61 and a 1 year high of $67.54.
In related news, EVP William E. Franklin sold 140,000 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $58.44, for a total transaction of $8,181,600.00. Following the completion of the sale, the executive vice president now owns 157,967 shares of the company’s stock, valued at approximately $9,231,591.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.99% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wesbanco Bank Inc. grew its stake in Copart by 1.3% during the 1st quarter. Wesbanco Bank Inc. now owns 11,975 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 155 shares in the last quarter. Creative Planning grew its stake in Copart by 1.0% during the 4th quarter. Creative Planning now owns 21,403 shares of the business services provider’s stock valued at $1,023,000 after acquiring an additional 211 shares in the last quarter. Keybank National Association OH boosted its holdings in Copart by 1.3% in the 1st quarter. Keybank National Association OH now owns 17,829 shares of the business services provider’s stock valued at $1,080,000 after purchasing an additional 225 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Copart by 1.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 14,452 shares of the business services provider’s stock valued at $876,000 after purchasing an additional 240 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Copart by 4.5% in the 1st quarter. Fifth Third Bancorp now owns 6,058 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 261 shares during the last quarter. 84.88% of the stock is owned by institutional investors.
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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