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

Copart (NASDAQ:CPRT) announced its earnings results on Thursday. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01, Briefing.com reports. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.

Copart Stock Down 0.1 %

Shares of CPRT opened at $54.50 on Friday. Copart has a 52-week low of $41.00 and a 52-week high of $58.58. The firm has a market cap of $52.40 billion, a price-to-earnings ratio of 39.21 and a beta of 1.22. The business’s 50 day moving average is $55.64 and its two-hundred day moving average is $51.48.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the company 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Copart has a consensus rating of “Hold” and an average price target of $51.00.

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.