Zacks: Analysts Anticipate Copart, Inc. (NASDAQ:CPRT) Will Post Quarterly Sales of $506.95 Million

Wall Street brokerages expect Copart, Inc. (NASDAQ:CPRT) to announce sales of $506.95 million for the current quarter, according to Zacks. Five analysts have provided estimates for Copart’s earnings, with the highest sales estimate coming in at $516.72 million and the lowest estimate coming in at $500.32 million. Copart reported sales of $449.22 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The business is scheduled to report its next earnings results on Wednesday, September 18th.

On average, analysts expect that Copart will report full year sales of $2.01 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.02 billion. For the next financial year, analysts expect that the firm will report sales of $2.19 billion, with estimates ranging from $2.15 billion to $2.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Copart.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The firm had revenue of $553.12 million for the quarter, compared to the consensus estimate of $535.62 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis.

CPRT has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, May 27th. Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a report on Friday, May 17th. BidaskClub lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barrington Research reissued a “hold” rating on shares of Copart in a report on Friday, May 24th. Finally, SunTrust Banks raised their price objective on shares of Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Copart currently has a consensus rating of “Hold” and an average target price of $66.77.

In other news, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $77.37, for a total value of $3,172,711.59. Following the completion of the transaction, the insider now directly owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $71.00, for a total transaction of $3,550,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $3,550,000. The disclosure for this sale can be found here. Insiders sold a total of 423,458 shares of company stock valued at $31,198,755 over the last ninety days. Company insiders own 15.99% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CPRT. Capital Investment Advisory Services LLC acquired a new position in Copart during the 2nd quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new position in Copart during the 1st quarter valued at about $34,000. Cordasco Financial Network raised its position in shares of Copart by 170.7% during the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after buying an additional 297 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Copart during the 2nd quarter worth about $37,000. Finally, Commonwealth Bank of Australia raised its position in shares of Copart by 132.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock worth $37,000 after buying an additional 295 shares in the last quarter. 83.78% of the stock is owned by hedge funds and other institutional investors.

Copart stock traded up $0.24 during midday trading on Thursday, hitting $74.55. 1,123,900 shares of the stock were exchanged, compared to its average volume of 1,300,093. Copart has a 1 year low of $44.61 and a 1 year high of $79.74. The firm has a market cap of $17.03 billion, a P/E ratio of 43.09, a P/E/G ratio of 1.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. The company has a 50 day moving average price of $76.38 and a two-hundred day moving average price of $66.92.

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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