$377.37 Million in Sales Expected for Copart, Inc. (CPRT) This Quarter
Equities analysts predict that Copart, Inc. (NASDAQ:CPRT) will post sales of $377.37 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Copart’s earnings, with the lowest sales estimate coming in at $370.63 million and the highest estimate coming in at $380.70 million. Copart posted sales of $345.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings results on Monday, November 20th.
According to Zacks, analysts expect that Copart will report full-year sales of $377.37 million for the current financial year, with estimates ranging from $1.61 billion to $1.64 billion. For the next financial year, analysts expect that the business will post sales of $1.71 billion per share, with estimates ranging from $1.63 billion to $1.76 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Copart.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. The firm had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS.
A number of research firms recently weighed in on CPRT. CJS Securities restated an “outperform” rating and issued a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Jefferies Group LLC restated a “hold” rating and issued a $33.00 price objective on shares of Copart in a report on Thursday, July 6th. Robert W. Baird increased their price objective on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research downgraded Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Copart has a consensus rating of “Hold” and an average target price of $37.33.
In other Copart news, Director James E. Meeks sold 160,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the completion of the sale, the director now directly owns 3,500 shares in the company, valued at approximately $120,155. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Vincent W. Mitz sold 200,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the sale, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Copart by 0.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,085 shares of the business services provider’s stock worth $624,000 after acquiring an additional 72 shares during the period. Parallel Advisors LLC grew its holdings in Copart by 2.6% during the 2nd quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after acquiring an additional 111 shares during the period. Neuberger Berman Group LLC grew its holdings in Copart by 0.8% during the 1st quarter. Neuberger Berman Group LLC now owns 16,826 shares of the business services provider’s stock worth $1,042,000 after acquiring an additional 126 shares during the period. Teacher Retirement System of Texas grew its holdings in Copart by 4.2% during the 1st quarter. Teacher Retirement System of Texas now owns 8,182 shares of the business services provider’s stock worth $507,000 after acquiring an additional 332 shares during the period. Finally, Aperio Group LLC grew its holdings in Copart by 0.8% during the 2nd quarter. Aperio Group LLC now owns 113,214 shares of the business services provider’s stock worth $3,599,000 after acquiring an additional 926 shares during the period. Hedge funds and other institutional investors own 79.59% of the company’s stock.
Shares of Copart (NASDAQ:CPRT) opened at 35.56 on Wednesday. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 21.42 and a beta of 1.19. The firm has a 50-day moving average price of $33.24 and a 200-day moving average price of $33.95. Copart has a 12-month low of $25.37 and a 12-month high of $35.66.
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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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