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

Copart (NASDAQ:CPRT - Get Free Report) posted its quarterly earnings data on Thursday. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01, Briefing.com reports. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.11 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS.

Copart Stock Down 0.1 %

Shares of NASDAQ CPRT traded down $0.08 during trading hours on Friday, hitting $54.50. The company had a trading volume of 6,566,331 shares, compared to its average volume of 4,496,463. Copart has a 1-year low of $41.00 and a 1-year high of $58.58. The firm's 50 day moving average is $55.64 and its 200-day moving average is $51.48. The stock has a market capitalization of $52.40 billion, a P/E ratio of 39.21 and a beta of 1.22.

Analysts Set New Price Targets

CPRT has been the subject of a number of research reports. StockNews.com downgraded Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Copart from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Copart currently has an average rating of "Hold" and a consensus target price of $51.00.

Insider Buying and Selling

In other news, Director Matt Blunt sold 100,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Matt Blunt sold 100,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm'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 sale, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. Over the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. Insiders own 10.23% of the company's stock.

About Copart

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.