Zacks: Brokerages Expect Copart, Inc. (NASDAQ:CPRT) Will Announce Quarterly Sales of $636.62 Million

Analysts expect that Copart, Inc. (NASDAQ:CPRT) will post $636.62 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Copart’s earnings. The lowest sales estimate is $589.63 million and the highest is $660.47 million. Copart posted sales of $550.36 million in the same quarter last year, which suggests a positive year over year growth rate of 15.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 19th.

On average, analysts expect that Copart will report full year sales of $2.47 billion for the current financial year, with estimates ranging from $2.41 billion to $2.52 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.70 billion, with estimates ranging from $2.53 billion to $2.85 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Copart.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, February 17th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Copart had a return on equity of 26.79% and a net margin of 30.39%. The company had revenue of $617.03 million for the quarter, compared to the consensus estimate of $630.64 million.

Several research firms have weighed in on CPRT. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Monday, February 22nd. Northcoast Research raised Copart from a “neutral” rating to a “buy” rating in a research report on Friday, February 5th. Stephens raised Copart from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $122.00 to $140.00 in a research report on Friday, February 12th. Finally, Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating and set a $116.00 price target on the stock. in a research report on Tuesday, February 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $108.00.

NASDAQ:CPRT traded down $2.95 during mid-day trading on Friday, reaching $118.09. 46,708 shares of the company’s stock traded hands, compared to its average volume of 1,153,801. The company has a 50 day moving average price of $118.01 and a 200-day moving average price of $116.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.79 and a quick ratio of 2.72. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 2.87 and a beta of 1.03. Copart has a 12-month low of $77.69 and a 12-month high of $130.96.

In other news, Director James E. Meeks sold 2,139 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $110.20, for a total value of $235,717.80. Following the completion of the sale, the director now directly owns 2,139 shares in the company, valued at approximately $235,717.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Willis J. Johnson sold 234,012 shares of the company’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $108.10, for a total value of $25,296,697.20. Following the completion of the sale, the chairman now owns 1,261,288 shares of the company’s stock, valued at $136,345,232.80. The disclosure for this sale can be found here. Insiders sold a total of 314,012 shares of company stock valued at $34,139,949 over the last 90 days. 12.61% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Bellecapital International Ltd. increased its stake in shares of Copart by 11.9% in the 4th quarter. Bellecapital International Ltd. now owns 17,906 shares of the business services provider’s stock worth $2,279,000 after purchasing an additional 1,903 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Copart by 1.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 78,797 shares of the business services provider’s stock worth $10,027,000 after buying an additional 1,060 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Copart by 7.9% in the 1st quarter. First Citizens Bank & Trust Co. now owns 15,366 shares of the business services provider’s stock worth $1,669,000 after buying an additional 1,123 shares during the period. BlackRock Inc. boosted its holdings in Copart by 2.5% in the 4th quarter. BlackRock Inc. now owns 20,382,068 shares of the business services provider’s stock worth $2,593,618,000 after buying an additional 494,131 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its holdings in Copart by 9.5% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 146,490 shares of the business services provider’s stock worth $18,642,000 after buying an additional 12,654 shares during the period. Hedge funds and other institutional investors own 79.35% 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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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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