Equities research analysts expect Copart, Inc. (NASDAQ:CPRT) to report sales of $630.64 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Copart's earnings. The lowest sales estimate is $612.25 million and the highest is $653.81 million. Copart reported sales of $575.14 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 17th.
According to Zacks, analysts expect that Copart will report full-year sales of $2.47 billion for the current year, with estimates ranging from $2.41 billion to $2.52 billion. For the next year, analysts expect that the business will report sales of $2.68 billion, with estimates ranging from $2.51 billion to $2.81 billion. Zacks' sales averages are an average based on a survey of research firms that that provide coverage for Copart.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, November 17th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.10. Copart had a return on equity of 26.79% and a net margin of 30.39%. The business had revenue of $592.94 million during the quarter, compared to the consensus estimate of $570.87 million.
Several research firms have recently weighed in on CPRT. BNP Paribas initiated coverage on Copart in a research report on Monday, December 7th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. raised their price target on Copart from $88.00 to $101.00 and gave the company a "neutral" rating in a report on Thursday, October 22nd. Truist raised their target price on Copart from $117.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, November 12th. BidaskClub lowered Copart from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 7th. Finally, Zacks Investment Research raised Copart from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Friday, November 20th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of "Buy" and an average target price of $101.20.
In other news, Director Daniel J. Englander sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $119.76, for a total transaction of $4,191,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.61% of the company's stock.
Several large investors have recently bought and sold shares of CPRT. Nuveen Asset Management LLC lifted its stake in shares of Copart by 48.2% during the second quarter. Nuveen Asset Management LLC now owns 1,317,945 shares of the business services provider's stock worth $109,745,000 after buying an additional 428,641 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Copart by 178.4% during the third quarter. Assenagon Asset Management S.A. now owns 549,600 shares of the business services provider's stock worth $57,796,000 after purchasing an additional 352,190 shares during the last quarter. Morgan Stanley raised its holdings in shares of Copart by 65.5% during the third quarter. Morgan Stanley now owns 753,600 shares of the business services provider's stock worth $79,248,000 after purchasing an additional 298,282 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new position in shares of Copart during the third quarter worth $22,911,000. Finally, AMF Pensionsforsakring AB purchased a new position in shares of Copart during the third quarter worth $20,747,000. Institutional investors and hedge funds own 79.35% of the company's stock.
CPRT opened at $119.10 on Thursday. The firm has a market cap of $28.12 billion, a PE ratio of 41.79, a P/E/G ratio of 3.03 and a beta of 1.03. Copart has a fifty-two week low of $55.69 and a fifty-two week high of $130.96. The company has a quick ratio of 2.72, a current ratio of 2.79 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $119.65 and a 200-day simple moving average of $107.03.
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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