Copart, Inc. (CPRT) Expected to Post Quarterly Sales of $538.23 Million

Brokerages expect that Copart, Inc. (NASDAQ:CPRT) will announce sales of $538.23 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Copart’s earnings. The lowest sales estimate is $521.17 million and the highest is $570.30 million. Copart posted sales of $478.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The business is scheduled to report its next earnings results on Wednesday, May 22nd.

According to Zacks, analysts expect that Copart will report full-year sales of $1.99 billion for the current financial year, with estimates ranging from $1.95 billion to $2.05 billion. For the next financial year, analysts anticipate that the company will post sales of $2.17 billion, with estimates ranging from $2.10 billion to $2.29 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Copart.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The business had revenue of $484.90 million during the quarter, compared to the consensus estimate of $488.54 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. Copart’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS.

Several research firms recently issued reports on CPRT. Zacks Investment Research downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised shares of Copart from a “hold” rating to a “buy” rating in a report on Monday, April 1st. SunTrust Banks increased their price target on shares of Copart to $67.00 and gave the company a “buy” rating in a report on Tuesday, February 26th. Barrington Research reissued a “hold” rating on shares of Copart in a report on Tuesday, February 19th. Finally, BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Copart has an average rating of “Hold” and a consensus target price of $59.67.

In other Copart news, EVP William E. Franklin sold 140,000 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the sale, the executive vice president now directly owns 157,967 shares of the company’s stock, valued at approximately $9,231,591.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.99% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley raised its stake in shares of Copart by 16.8% in the 3rd quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock valued at $258,293,000 after buying an additional 719,694 shares in the last quarter. American International Group Inc. raised its stake in shares of Copart by 1.2% in the 4th quarter. American International Group Inc. now owns 73,082 shares of the business services provider’s stock valued at $3,492,000 after buying an additional 871 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of Copart in the 4th quarter valued at $41,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Copart by 10.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 8,850 shares of the business services provider’s stock valued at $423,000 after buying an additional 858 shares in the last quarter. Finally, YCG LLC raised its stake in shares of Copart by 56.5% in the 4th quarter. YCG LLC now owns 380,632 shares of the business services provider’s stock valued at $18,187,000 after buying an additional 137,417 shares in the last quarter. 85.26% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CPRT traded up $0.87 during trading hours on Tuesday, hitting $65.86. 789,900 shares of the stock were exchanged, compared to its average volume of 1,316,781. The company has a current ratio of 1.69, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market cap of $14.83 billion, a P/E ratio of 38.06, a P/E/G ratio of 1.52 and a beta of 0.95. Copart has a one year low of $44.61 and a one year high of $67.08.

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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