Copart (CPRT) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Copart (NASDAQ:CPRT) released its earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06, RTT News reports. Copart had a return on equity of 29.96% and a net margin of 20.01%. The company had revenue of $419.17 million during the quarter, compared to analysts’ expectations of $377.37 million. During the same quarter last year, the business posted $0.29 EPS.

Shares of Copart (NASDAQ:CPRT) opened at $43.88 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Copart has a fifty-two week low of $27.46 and a fifty-two week high of $43.97. The company has a market capitalization of $10,066.35, a price-to-earnings ratio of 32.48, a P/E/G ratio of 1.44 and a beta of 1.31.

In related news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the transaction, the director now directly owns 3,500 shares in the company, valued at $120,155. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matt Blunt sold 116,667 shares of Copart stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total value of $4,895,347.32. The disclosure for this sale can be found here. Insiders sold 476,667 shares of company stock valued at $17,252,147 in the last ninety days. 16.40% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on CPRT shares. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, November 21st. J P Morgan Chase & Co lifted their target price on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, November 24th. CJS Securities reissued an “outperform” rating and issued a $42.00 target price on shares of Copart in a report on Thursday, October 5th. Robert W. Baird lifted their target price on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Finally, BidaskClub raised Copart from a “hold” rating to a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $41.40.

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Copart Company Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

Earnings History for Copart (NASDAQ:CPRT)

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