Copart, Inc. (CPRT) Issues Earnings Results, Beats Estimates By $0.01 EPS
Copart, Inc. (NASDAQ:CPRT) posted its earnings results on Wednesday. The business services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Copart had a return on equity of 35.43% and a net margin of 29.00%. The business had revenue of $373.90 million during the quarter, compared to the consensus estimate of $386.61 million. During the same period in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis.
Shares of Copart (NASDAQ:CPRT) opened at 29.98 on Thursday. The company has a 50-day moving average price of $33.57 and a 200 day moving average price of $51.37. Copart has a one year low of $21.31 and a one year high of $31.57. The firm has a market capitalization of $6.89 billion, a P/E ratio of 18.15 and a beta of 1.00.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $30.00 price target on shares of Copart in a research report on Tuesday, April 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.50.
In related news, Director James E. Meeks sold 16,500 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $60.52, for a total value of $998,580.00. Following the transaction, the director now directly owns 16,500 shares in the company, valued at $998,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meeks sold 53,203 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $60.54, for a total transaction of $3,220,909.62. Following the completion of the transaction, the director now owns 29,703 shares in the company, valued at $1,798,219.62. The disclosure for this sale can be found here. Insiders have sold 269,703 shares of company stock worth $16,631,490 over the last quarter. 17.00% of the stock is owned by company insiders.
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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.
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