Copart, Inc. Expected to Post Q3 2020 Earnings of $0.56 Per Share (NASDAQ:CPRT)

Copart, Inc. (NASDAQ:CPRT) – Stock analysts at Northcoast Research decreased their Q3 2020 earnings per share estimates for shares of Copart in a note issued to investors on Monday, March 23rd. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings per share of $0.56 for the quarter, down from their prior estimate of $0.71. Northcoast Research currently has a “Buy” rating on the stock.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, February 19th. The business services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The business had revenue of $575.10 million for the quarter, compared to analysts’ expectations of $576.09 million. Copart had a net margin of 32.95% and a return on equity of 32.56%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share.

Other analysts have also recently issued research reports about the stock. Barrington Research reiterated a “hold” rating on shares of Copart in a report on Tuesday, February 18th. Robert W. Baird cut their price target on shares of Copart from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. SunTrust Banks lifted their price target on shares of Copart from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, BidaskClub cut shares of Copart from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $86.60.

NASDAQ:CPRT opened at $72.56 on Wednesday. The stock has a market cap of $16.12 billion, a P/E ratio of 23.64 and a beta of 0.97. The firm’s fifty day simple moving average is $85.21 and its 200 day simple moving average is $87.21. Copart has a twelve month low of $55.69 and a twelve month high of $104.88. The company has a quick ratio of 2.08, a current ratio of 2.13 and a debt-to-equity ratio of 0.23.

In other news, Director Steven D. Cohan sold 80,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $92.14, for a total transaction of $7,371,200.00. Following the sale, the director now owns 80,000 shares in the company, valued at approximately $7,371,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Englander sold 70,428 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $60.05, for a total transaction of $4,229,201.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,895 shares of company stock worth $24,174,699. Company insiders own 14.34% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Copart by 26.5% during the 4th quarter. American International Group Inc. now owns 87,642 shares of the business services provider’s stock valued at $7,970,000 after purchasing an additional 18,371 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Copart by 689.5% during the 4th quarter. ProShare Advisors LLC now owns 191,513 shares of the business services provider’s stock valued at $17,416,000 after purchasing an additional 167,255 shares during the last quarter. IFP Advisors Inc increased its position in shares of Copart by 18.0% during the 4th quarter. IFP Advisors Inc now owns 1,989 shares of the business services provider’s stock valued at $188,000 after purchasing an additional 304 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Copart by 1,726.4% during the 4th quarter. Acadian Asset Management LLC now owns 102,646 shares of the business services provider’s stock valued at $9,336,000 after purchasing an additional 97,026 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Copart during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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