Copart (NASDAQ:CPRT) Posts Earnings Results

Copart (NASDAQ:CPRT) issued its earnings results on Thursday. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02, Zacks reports. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%.

Copart Price Performance

Shares of CPRT stock traded down $1.61 during trading hours on Friday, hitting $56.61. 7,227,988 shares of the company’s stock were exchanged, compared to its average volume of 3,178,587. Copart has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a market cap of $54.55 billion, a price-to-earnings ratio of 38.00 and a beta of 1.33. The stock’s 50-day moving average is $57.97 and its 200-day moving average is $55.65.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last ninety days. 9.68% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.