Copart (NASDAQ:CPRT – Get Free Report) posted its quarterly earnings data on Thursday. The business services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02, Briefing.com reports. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $987.90 million. Copart had a return on equity of 22.46% and a net margin of 31.99%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share.
Copart Trading Up 1.8 %
Shares of Copart stock opened at $50.22 on Friday. The company has a market capitalization of $48.22 billion, a PE ratio of 39.23 and a beta of 1.19. The stock’s fifty day simple moving average is $45.05 and its 200 day simple moving average is $46.39. Copart has a 12 month low of $29.61 and a 12 month high of $51.53.
In related news, Director Stephen Fisher sold 160,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $45.69, for a total value of $7,310,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Matt Blunt sold 49,435 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total value of $2,131,142.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Fisher sold 160,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $45.69, for a total transaction of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Copart
Analyst Ratings Changes
A number of equities analysts have recently commented on CPRT shares. JPMorgan Chase & Co. lifted their price objective on Copart from $39.50 to $41.00 in a research note on Monday, September 18th. StockNews.com raised Copart from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Robert W. Baird lifted their target price on Copart from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. Finally, Argus assumed coverage on Copart in a report on Friday, September 8th. They issued a “buy” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.40.
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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