Copart (NASDAQ:CPRT) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Copart (NASDAQ:CPRT) issued its earnings results on Wednesday. The business services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.06), MarketWatch Earnings reports. Copart had a return on equity of 30.34% and a net margin of 30.95%. The company had revenue of $550.36 million during the quarter, compared to analysts’ expectations of $547.05 million. During the same period in the previous year, the company earned $0.66 EPS. Copart’s quarterly revenue was down .5% on a year-over-year basis.

Shares of NASDAQ CPRT opened at $86.25 on Friday. The stock’s 50 day moving average price is $75.19 and its two-hundred day moving average price is $85.34. Copart has a 52-week low of $55.69 and a 52-week high of $104.88. The stock has a market capitalization of $20.19 billion, a P/E ratio of 29.95 and a beta of 1.11. The company has a quick ratio of 2.08, a current ratio of 2.13 and a debt-to-equity ratio of 0.23.

In other Copart news, Director Daniel J. Englander sold 70,428 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $60.05, for a total transaction of $4,229,201.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Willis J. Johnson sold 462,722 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $71.44, for a total value of $33,056,859.68. The disclosure for this sale can be found here. Corporate insiders own 14.34% of the company’s stock.

Several brokerages have recently weighed in on CPRT. SunTrust Banks decreased their target price on Copart from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, May 18th. BidaskClub upgraded Copart from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. upgraded Copart from an “underweight” rating to a “neutral” rating and set a $65.00 price target on the stock in a research note on Thursday, April 23rd. Robert W. Baird cut their price target on Copart from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Cfra cut their price target on Copart from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $83.89.

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.

Featured Story: Management Fee

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.