Copart, Inc. to Post Q1 2022 Earnings of $0.92 Per Share, Truist Securiti Forecasts (NASDAQ:CPRT)

Copart, Inc. (NASDAQ:CPRT) – Equities research analysts at Truist Securiti increased their Q1 2022 EPS estimates for Copart in a research note issued to investors on Thursday, September 9th. Truist Securiti analyst S. Benjamin now anticipates that the business services provider will post earnings per share of $0.92 for the quarter, up from their previous estimate of $0.91. Truist Securiti also issued estimates for Copart’s Q2 2022 earnings at $0.92 EPS, Q3 2022 earnings at $0.98 EPS, Q4 2022 earnings at $0.97 EPS, FY2022 earnings at $3.80 EPS and FY2023 earnings at $4.05 EPS.

A number of other equities analysts have also issued reports on the company. Truist upped their target price on Copart from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, September 10th. Barrington Research reaffirmed a “market perform” rating on shares of Copart in a research report on Wednesday, September 8th. Truist Securities increased their target price on Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Robert W. Baird increased their price target on Copart from $130.00 to $150.00 and gave the stock an “average” rating in a research note on Friday, September 10th. Finally, Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, August 31st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $143.83.

Shares of NASDAQ:CPRT opened at $144.59 on Monday. The stock has a market capitalization of $34.21 billion, a P/E ratio of 37.17 and a beta of 1.03. Copart has a 1 year low of $100.07 and a 1 year high of $149.07. The stock has a 50-day simple moving average of $143.04 and a 200-day simple moving average of $128.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.94 and a current ratio of 4.04.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 7th. The business services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Copart had a net margin of 34.78% and a return on equity of 28.62%. The company had revenue of $748.63 million during the quarter, compared to the consensus estimate of $686.93 million. During the same quarter in the prior year, the company posted $0.69 EPS. The company’s quarterly revenue was up 42.4% compared to the same quarter last year.

A number of large investors have recently made changes to their positions in CPRT. Meeder Asset Management Inc. grew its stake in shares of Copart by 11.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 688 shares of the business services provider’s stock valued at $91,000 after buying an additional 70 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of Copart by 2.0% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,591 shares of the business services provider’s stock worth $473,000 after purchasing an additional 72 shares during the period. K.J. Harrison & Partners Inc raised its holdings in shares of Copart by 0.4% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 18,075 shares of the business services provider’s stock worth $2,385,000 after purchasing an additional 75 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Copart by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,084 shares of the business services provider’s stock worth $3,439,000 after purchasing an additional 75 shares during the period. Finally, BancorpSouth Bank raised its holdings in Copart by 1.7% during the 2nd quarter. BancorpSouth Bank now owns 4,734 shares of the business services provider’s stock valued at $625,000 after acquiring an additional 77 shares during the period. 81.28% of the stock is owned by institutional investors and hedge funds.

In other Copart news, CEO A Jayson Adair sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $139.21, for a total value of $18,097,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven D. Cohan sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $139.46, for a total value of $11,156,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 573,293 shares of company stock valued at $77,786,349. 12.61% of the stock is currently owned by corporate insiders.

Copart Company Profile

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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