Analysts forecast that Copart, Inc. (NASDAQ:CPRT) will report $446.35 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Copart’s earnings. The highest sales estimate is $460.63 million and the lowest is $438.80 million. Copart posted sales of $378.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.9%. The business is expected to report its next quarterly earnings report on Tuesday, September 18th.
According to Zacks, analysts expect that Copart will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.77 billion to $1.82 billion. For the next year, analysts anticipate that the firm will post sales of $1.92 billion per share, with estimates ranging from $1.81 billion to $2.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Copart.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Copart had a net margin of 21.81% and a return on equity of 31.21%. The company had revenue of $478.20 million during the quarter, compared to analysts’ expectations of $434.74 million. During the same quarter in the previous year, the company earned $0.38 earnings per share.
A number of research firms have weighed in on CPRT. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 21st. Stephens cut shares of Copart from an “overweight” rating to an “equal weight” rating in a report on Friday, May 18th. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. Gabelli reaffirmed a “hold” rating on shares of Copart in a report on Friday, May 25th. Finally, ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.63.
Copart traded up $0.85, reaching $58.01, on Friday, according to MarketBeat. The stock had a trading volume of 1,697,506 shares, compared to its average volume of 4,634,099. Copart has a 12-month low of $30.30 and a 12-month high of $60.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.27 and a current ratio of 2.33. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 1.41 and a beta of 0.93.
In related news, Director Steven D. Cohan sold 80,000 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $57.96, for a total transaction of $4,636,800.00. Following the transaction, the director now directly owns 80,024 shares in the company, valued at $4,638,191.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Liaw sold 30,000 shares of the business’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $58.41, for a total transaction of $1,752,300.00. The disclosure for this sale can be found here. Insiders have sold 550,000 shares of company stock valued at $31,686,500 in the last three months. Corporate insiders own 16.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC acquired a new position in Copart during the fourth quarter worth about $101,000. Signaturefd LLC acquired a new position in Copart during the first quarter worth about $111,000. Captrust Financial Advisors acquired a new position in Copart during the fourth quarter worth about $172,000. Assetmark Inc. acquired a new position in Copart during the fourth quarter worth about $196,000. Finally, Eaton Vance Management acquired a new position in Copart in the 1st quarter valued at about $216,000. Hedge funds and other institutional investors own 79.92% of the company’s stock.
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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