Analysts Anticipate Copart, Inc. (CPRT) Will Post Quarterly Sales of $355.48 Million
Brokerages expect Copart, Inc. (NASDAQ:CPRT) to post $355.48 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Copart’s earnings, with the lowest sales estimate coming in at $350.77 million and the highest estimate coming in at $364.25 million. Copart reported sales of $332.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, September 19th.
According to Zacks, analysts expect that Copart will report full year sales of $355.48 million for the current year, with estimates ranging from $1.42 billion to $1.45 billion. For the next year, analysts anticipate that the business will post sales of $1.55 billion per share, with estimates ranging from $1.51 billion to $1.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Copart.
Several research analysts have recently issued reports on CPRT shares. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC increased their target price on Copart from $30.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Copart presently has an average rating of “Hold” and a consensus target price of $47.75.
Copart (CPRT) opened at 32.64 on Monday. Copart has a 12 month low of $24.71 and a 12 month high of $33.10. The stock’s 50 day moving average price is $31.63 and its 200-day moving average price is $39.26. The company has a market capitalization of $7.52 billion, a P/E ratio of 18.83 and a beta of 1.19.
Several large investors have recently made changes to their positions in CPRT. Glen Harbor Capital Management LLC raised its position in shares of Copart by 7.3% in the 1st quarter. Glen Harbor Capital Management LLC now owns 6,816 shares of the business services provider’s stock worth $422,000 after acquiring an additional 464 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Copart by 37.7% in the 1st quarter. Russell Investments Group Ltd. now owns 190,831 shares of the business services provider’s stock worth $11,818,000 after acquiring an additional 52,250 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Copart by 1.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 35,849 shares of the business services provider’s stock worth $2,220,000 after acquiring an additional 500 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Copart by 1.9% in the 1st quarter. Wells Fargo & Company MN now owns 926,493 shares of the business services provider’s stock worth $57,377,000 after acquiring an additional 17,501 shares in the last quarter. Finally, Geneva Advisors LLC bought a new position in shares of Copart in the 1st quarter worth approximately $615,000. 79.77% of the stock is owned by hedge funds and other institutional investors.
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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