Copart (NASDAQ:CPRT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Copart (NASDAQ:CPRTGet Free Report) announced its earnings results on Thursday. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01, Briefing.com reports. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 21.43% and a net margin of 33.33%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS.

Copart Trading Down 0.1 %

Shares of Copart stock opened at $54.50 on Friday. The stock has a market capitalization of $52.40 billion, a price-to-earnings ratio of 38.38 and a beta of 1.22. Copart has a 1-year low of $41.00 and a 1-year high of $58.58. The firm’s 50-day moving average price is $55.64 and its two-hundred day moving average price is $51.53.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Copart has an average rating of “Hold” and an average price target of $51.00.

Check Out Our Latest Research Report on CPRT

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 in the last three months. Insiders own 10.23% of the company’s stock.

Copart Company Profile

(Get Free Report)

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 for Copart (NASDAQ:CPRT)

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