Zacks: Analysts Expect Copart, Inc. (CPRT) Will Post Quarterly Sales of $437.04 Million

Equities research analysts predict that Copart, Inc. (NASDAQ:CPRT) will announce $437.04 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Copart’s earnings. The highest sales estimate is $442.03 million and the lowest is $432.97 million. Copart posted sales of $349.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is expected to report its next quarterly earnings results on Tuesday, February 20th.

On average, analysts expect that Copart will report full year sales of $437.04 million for the current fiscal year, with estimates ranging from $1.65 billion to $1.71 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.79 billion per share, with estimates ranging from $1.74 billion to $1.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Copart.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. Copart had a return on equity of 29.96% and a net margin of 20.01%. The company had revenue of $419.17 million during the quarter, compared to the consensus estimate of $377.37 million. During the same quarter last year, the company earned $0.29 EPS.

A number of analysts have commented on CPRT shares. Robert W. Baird raised their price objective on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, November 21st. Wolfe Research started coverage on Copart in a research report on Tuesday, November 7th. They issued a “market perform” rating for the company. Jefferies Group raised their price objective on Copart to $40.00 and gave the stock a “hold” rating in a research report on Thursday, November 23rd. Finally, CJS Securities reiterated an “outperform” rating and issued a $42.00 price objective on shares of Copart in a research report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.80.

In other news, Director Daniel J. Englander sold 68,004 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 116,667 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total value of $4,895,347.32. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CPRT. Schwab Charles Investment Management Inc. raised its holdings in shares of Copart by 105.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 889,890 shares of the business services provider’s stock worth $28,290,000 after buying an additional 456,629 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Copart by 101.4% in the 2nd quarter. Prudential Financial Inc. now owns 127,938 shares of the business services provider’s stock worth $4,067,000 after buying an additional 64,409 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Copart by 105.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 34,631 shares of the business services provider’s stock worth $1,101,000 after buying an additional 17,805 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Copart by 125.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,064 shares of the business services provider’s stock worth $256,000 after buying an additional 4,495 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Copart in the 2nd quarter worth approximately $200,000. 78.60% of the stock is owned by institutional investors and hedge funds.

Shares of Copart (NASDAQ:CPRT) opened at $43.52 on Thursday. The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 0.46. Copart has a 52-week low of $27.74 and a 52-week high of $44.76. The company has a market capitalization of $10,070.00, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30.

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Copart Company Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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