Copart (CPRT) Trading 5.7% Higher on Earnings Beat

Shares of Copart, Inc. (NASDAQ:CPRT) traded up 5.7% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $57.07 and last traded at $56.53. 4,448,397 shares traded hands during mid-day trading, an increase of 262% from the average session volume of 1,227,997 shares. The stock had previously closed at $53.48.

The business services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Copart had a net margin of 25.75% and a return on equity of 29.66%. The business had revenue of $484.90 million during the quarter, compared to analysts’ expectations of $488.54 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year.

Several analysts have commented on the stock. Barrington Research restated a “hold” rating on shares of Copart in a research note on Tuesday. BidaskClub upgraded shares of Copart from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 7th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Monday, February 4th. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Friday, November 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.33.

In related news, Director Daniel J. Englander sold 80,000 shares of the business’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $49.53, for a total value of $3,962,400.00. Following the completion of the transaction, the director now directly owns 555,128 shares in the company, valued at approximately $27,495,489.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.99% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel acquired a new position in Copart during the fourth quarter worth $1,836,000. Public Employees Retirement System of Ohio raised its position in Copart by 4.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 289,718 shares of the business services provider’s stock worth $13,843,000 after acquiring an additional 12,676 shares during the period. HRT Financial LLC raised its position in Copart by 261.3% during the fourth quarter. HRT Financial LLC now owns 27,629 shares of the business services provider’s stock worth $1,320,000 after acquiring an additional 19,982 shares during the period. Millennium Management LLC raised its position in Copart by 260.0% during the fourth quarter. Millennium Management LLC now owns 294,074 shares of the business services provider’s stock worth $14,051,000 after acquiring an additional 212,385 shares during the period. Finally, Macquarie Group Ltd. raised its position in Copart by 11.3% during the fourth quarter. Macquarie Group Ltd. now owns 74,101 shares of the business services provider’s stock worth $3,541,000 after acquiring an additional 7,539 shares during the period. Hedge funds and other institutional investors own 77.68% of the company’s stock.

The company has a current ratio of 3.00, a quick ratio of 2.92 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 1.10 and a beta of 0.91.

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Copart Company Profile (NASDAQ:CPRT)

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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