Copart, Inc. (NASDAQ:CPRT) – Stock analysts at Northcoast Research cut their FY2020 earnings per share (EPS) estimates for Copart in a report released on Monday, March 23rd. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings of $2.30 per share for the year, down from their prior forecast of $2.69. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Copart’s Q4 2020 earnings at $0.45 EPS and FY2021 earnings at $2.65 EPS.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, February 19th. The business services provider reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $575.10 million for the quarter, compared to analyst estimates of $576.09 million. Copart had a net margin of 32.95% and a return on equity of 32.56%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS.
Other research analysts also recently issued research reports about the company. Barrington Research reissued a “hold” rating on shares of Copart in a report on Tuesday, February 18th. Robert W. Baird dropped their price objective on Copart from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. BidaskClub lowered Copart from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, SunTrust Banks increased their target price on Copart from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $86.60.
Shares of Copart stock opened at $72.56 on Thursday. Copart has a 1-year low of $55.69 and a 1-year high of $104.88. The company has a market capitalization of $16.12 billion, a PE ratio of 23.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.13 and a quick ratio of 2.08. The business has a 50-day moving average of $85.21 and a 200-day moving average of $87.21.
A number of institutional investors and hedge funds have recently made changes to their positions in CPRT. State Street Corp boosted its holdings in shares of Copart by 3.7% in the 4th quarter. State Street Corp now owns 8,613,997 shares of the business services provider’s stock valued at $783,357,000 after buying an additional 303,938 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Copart by 46.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,524,694 shares of the business services provider’s stock valued at $320,535,000 after buying an additional 1,113,023 shares during the last quarter. Geode Capital Management LLC raised its stake in Copart by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,391,559 shares of the business services provider’s stock worth $307,836,000 after acquiring an additional 220,919 shares during the period. Norges Bank acquired a new stake in Copart during the fourth quarter worth about $271,008,000. Finally, Bank of New York Mellon Corp lifted its holdings in Copart by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,951,728 shares of the business services provider’s stock worth $177,490,000 after acquiring an additional 20,002 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
In other news, Director Daniel J. Englander sold 70,428 shares of Copart stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $60.05, for a total value of $4,229,201.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $95.33, for a total value of $4,766,500.00. The disclosure for this sale can be found here. Insiders sold a total of 281,895 shares of company stock valued at $24,174,699 in the last three months. Insiders own 14.34% of the company’s stock.
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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