Zacks: Analysts Expect Copart, Inc. (CPRT) Will Announce Quarterly Sales of $437.04 Million

Brokerages expect that Copart, Inc. (NASDAQ:CPRT) will announce sales of $437.04 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Copart’s earnings, with the highest sales estimate coming in at $442.03 million and the lowest estimate coming in at $432.97 million. Copart reported sales of $349.53 million during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The company is scheduled to issue its next earnings report on Tuesday, February 20th.

On average, analysts expect that Copart will report full-year sales of $437.04 million for the current year, with estimates ranging from $1.65 billion to $1.71 billion. For the next year, analysts anticipate that the company will report sales of $1.79 billion per share, with estimates ranging from $1.74 billion to $1.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Copart.

Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, November 21st. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $419.17 million during the quarter, compared to the consensus estimate of $377.37 million. Copart had a return on equity of 29.96% and a net margin of 20.01%. During the same period last year, the firm earned $0.29 earnings per share.

A number of research firms have recently weighed in on CPRT. Wolfe Research began coverage on Copart in a report on Tuesday, November 7th. They set a “market perform” rating on the stock. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, November 21st. Jefferies Group lifted their price target on shares of Copart to $40.00 and gave the stock a “hold” rating in a research report on Thursday, November 23rd. JPMorgan Chase & Co. lifted their price target on shares of Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. Finally, Robert W. Baird restated a “buy” rating and issued a $44.00 price target on shares of Copart in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.33.

In other Copart news, Director Matt Blunt sold 116,667 shares of Copart stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $41.96, for a total transaction of $4,895,347.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel J. Englander sold 68,004 shares of Copart stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total transaction of $2,950,013.52. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC purchased a new position in Copart during the 4th quarter worth approximately $108,000. Assetmark Inc. purchased a new position in Copart during the 4th quarter worth approximately $196,000. Nadler Financial Group Inc. purchased a new position in Copart during the 4th quarter worth approximately $216,000. CWA Asset Management Group LLC purchased a new position in Copart during the 4th quarter worth approximately $225,000. Finally, Reliance Trust Co. of Delaware purchased a new position in Copart during the 4th quarter worth approximately $226,000. Hedge funds and other institutional investors own 77.81% of the company’s stock.

Copart (NASDAQ:CPRT) opened at $43.19 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Copart has a 52 week low of $28.44 and a 52 week high of $46.09. The company has a market capitalization of $9,906.75, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.12.

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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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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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