Copart Inc. (NASDAQ:CPRT) – Investment analysts at Northcoast Research issued their FY2018 earnings per share estimates for Copart in a report released on Wednesday. Northcoast Research analyst J. Healy expects that the firm will post earnings of $2.77 per share for the year. Northcoast Research has a “Neutral” rating on the stock.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Copart had a return on equity of 28.32% and a net margin of 19.93%. The business had revenue of $332.70 million for the quarter. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis.
Several other analysts have also commented on the company. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday. Stephens set a $61.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $63.00 in a report on Friday. Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Jefferies Group raised their price objective on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Copart has a consensus rating of “Hold” and a consensus price target of $55.57.
Shares of Copart (NASDAQ:CPRT) opened at 54.05 on Monday. Copart has a 1-year low of $32.26 and a 1-year high of $54.85. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 24.46 and a beta of 0.99. The firm has a 50-day moving average price of $51.31 and a 200-day moving average price of $46.89.
A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its position in Copart by 50.3% in the first quarter. Lazard Asset Management LLC now owns 6,964,089 shares of the company’s stock worth $283,924,000 after buying an additional 2,330,220 shares during the period. Ancora Inverness LLC bought a new position in Copart during the first quarter worth $207,000. Burgundy Asset Management Ltd. raised its position in Copart by 2.9% in the first quarter. Burgundy Asset Management Ltd. now owns 174,552 shares of the company’s stock worth $7,116,000 after buying an additional 5,000 shares during the period. Landscape Capital Management L.L.C. raised its position in Copart by 548.4% in the first quarter. Landscape Capital Management L.L.C. now owns 90,775 shares of the company’s stock worth $3,701,000 after buying an additional 76,775 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Copart by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 89,645 shares of the company’s stock worth $3,655,000 after buying an additional 19,317 shares during the period. 83.65% of the stock is currently owned by institutional investors.
In other Copart news, SVP Paul A. Styer sold 7,640 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $49.26, for a total transaction of $376,346.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $49.96, for a total value of $628,346.92. Following the transaction, the senior vice president now directly owns 9,703 shares in the company, valued at approximately $484,761.88. The disclosure for this sale can be found here. Company insiders own 19.40% of the company’s stock.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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