Analysts Anticipate Copart, Inc. (CPRT) Will Post Quarterly Sales of $494.35 Million

Brokerages predict that Copart, Inc. (NASDAQ:CPRT) will post sales of $494.35 million for the current quarter, Zacks reports. Five analysts have provided estimates for Copart’s earnings, with the highest sales estimate coming in at $501.46 million and the lowest estimate coming in at $481.12 million. Copart posted sales of $459.11 million during the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The business is scheduled to issue its next quarterly earnings results on Monday, February 25th.

According to Zacks, analysts expect that Copart will report full-year sales of $2.01 billion for the current year, with estimates ranging from $1.94 billion to $2.06 billion. For the next year, analysts forecast that the firm will post sales of $2.19 billion, with estimates ranging from $2.12 billion to $2.29 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Copart.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, November 20th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Copart had a return on equity of 29.95% and a net margin of 24.59%. The firm had revenue of $461.40 million during the quarter, compared to analysts’ expectations of $460.09 million. During the same period in the previous year, the firm posted $0.32 earnings per share. Copart’s revenue was up 10.1% on a year-over-year basis.



CPRT has been the topic of a number of recent research reports. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research report on Thursday. SunTrust Banks set a $63.00 price objective on Copart and gave the company a “buy” rating in a research note on Friday, November 23rd. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, February 4th. Finally, Barrington Research restated a “hold” rating on shares of Copart in a research note on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.33.

Shares of CPRT traded up $0.46 during trading hours on Wednesday, reaching $52.19. 878,157 shares of the stock traded hands, compared to its average volume of 1,110,006. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.00 and a quick ratio of 2.92. Copart has a 52 week low of $42.02 and a 52 week high of $67.08. The firm has a market capitalization of $12.11 billion, a P/E ratio of 30.17, a PEG ratio of 1.06 and a beta of 0.91.

In other Copart news, Director Daniel J. Englander sold 80,000 shares of the business’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $49.53, for a total transaction of $3,962,400.00. Following the sale, the director now directly owns 555,128 shares of the company’s stock, valued at approximately $27,495,489.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.99% of the company’s stock.

Several hedge funds have recently modified their holdings of CPRT. Vanguard Group Inc grew its stake in Copart by 3.8% in the third quarter. Vanguard Group Inc now owns 21,828,682 shares of the business services provider’s stock valued at $1,124,833,000 after purchasing an additional 795,115 shares during the last quarter. BlackRock Inc. grew its holdings in Copart by 3.4% in the fourth quarter. BlackRock Inc. now owns 14,852,890 shares of the business services provider’s stock worth $709,669,000 after purchasing an additional 493,619 shares during the period. FMR LLC grew its holdings in Copart by 18.9% in the third quarter. FMR LLC now owns 7,800,473 shares of the business services provider’s stock worth $401,959,000 after purchasing an additional 1,237,941 shares during the period. Morgan Stanley grew its holdings in Copart by 16.8% in the third quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock worth $258,293,000 after purchasing an additional 719,694 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Copart by 5.2% in the third quarter. Clearbridge Investments LLC now owns 3,948,140 shares of the business services provider’s stock worth $203,448,000 after purchasing an additional 193,739 shares during the period. 80.52% of the stock is currently owned by institutional investors.

About Copart

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.

Further Reading: Hedge Funds – Risk or Reward?

Get a free copy of the Zacks research report on Copart (CPRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply