Copart (NASDAQ:CPRT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Copart (NASDAQ:CPRTGet Free Report) posted its earnings results on Thursday. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01, Briefing.com reports. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 21.43%. Copart’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share.

Copart Price Performance

NASDAQ:CPRT opened at $54.50 on Friday. The firm’s 50-day moving average price is $55.64 and its 200-day moving average price is $51.53. The company has a market capitalization of $52.40 billion, a PE ratio of 38.38 and a beta of 1.22. Copart has a 1-year low of $41.00 and a 1-year high of $58.58.

Insider Activity at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 100,000 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock valued at $55,519,950 in the last three months. Company insiders own 10.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.

Read Our Latest Stock Analysis on CPRT

Copart Company Profile

(Get Free Report)

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.

Featured Articles

Earnings History for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.