Copart (NASDAQ:CPRT) Issues Earnings Results

Copart (NASDAQ:CPRT) released its quarterly earnings data on Wednesday. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03), Briefing.com reports. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share.

Copart Trading Down 6.7 %

NASDAQ CPRT opened at $49.51 on Friday. Copart has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a 50 day moving average of $52.39 and a 200-day moving average of $53.81. The firm has a market cap of $47.64 billion, a price-to-earnings ratio of 34.87 and a beta of 1.27.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average price target of $53.00.

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.