Equities research analysts expect Copart, Inc. (NASDAQ:CPRT) to report sales of $531.02 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Copart’s earnings. The lowest sales estimate is $512.19 million and the highest is $538.79 million. Copart posted sales of $461.37 million during the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The company is expected to issue its next quarterly earnings report on Tuesday, November 19th.
On average, analysts expect that Copart will report full-year sales of $2.29 billion for the current year, with estimates ranging from $2.22 billion to $2.34 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.50 billion, with estimates ranging from $2.35 billion to $2.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Copart.
Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Copart had a net margin of 28.98% and a return on equity of 32.83%. The firm had revenue of $542.60 million during the quarter, compared to the consensus estimate of $517.84 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 20.8% on a year-over-year basis.
CPRT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Robert W. Baird set a $85.00 target price on Copart and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim raised Copart from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Friday, October 18th. BidaskClub lowered Copart from a “hold” rating to a “sell” rating in a report on Saturday. Finally, ValuEngine lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $80.40.
Several hedge funds have recently bought and sold shares of CPRT. Venturi Wealth Management LLC acquired a new position in Copart in the 3rd quarter valued at $25,000. Prime Capital Investment Advisors LLC acquired a new position in Copart in the 3rd quarter valued at $26,000. Financial Advantage Inc. acquired a new position in Copart in the 3rd quarter valued at $28,000. Capital Investment Advisory Services LLC acquired a new position in Copart in the 2nd quarter valued at $29,000. Finally, Griffin Asset Management Inc. acquired a new position in Copart in the 2nd quarter valued at $34,000. 80.97% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CPRT traded down $0.16 during trading hours on Thursday, hitting $81.46. The stock had a trading volume of 1,541,200 shares, compared to its average volume of 1,340,618. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.36 and a current ratio of 2.44. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 1.54 and a beta of 0.81. Copart has a one year low of $44.61 and a one year high of $85.31. The business’s 50 day moving average is $81.80 and its 200-day moving average is $75.82.
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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