Copart, Inc. (NASDAQ:CPRT) – Barrington Research raised their Q1 2020 earnings per share (EPS) estimates for shares of Copart in a research note issued on Wednesday, September 11th. Barrington Research analyst G. Prestopino now anticipates that the business services provider will post earnings of $0.57 per share for the quarter, up from their previous estimate of $0.52. Barrington Research has a “Hold” rating on the stock. Barrington Research also issued estimates for Copart’s Q2 2020 earnings at $0.62 EPS, Q3 2020 earnings at $0.75 EPS, Q4 2020 earnings at $0.67 EPS, FY2020 earnings at $2.60 EPS, Q1 2021 earnings at $0.65 EPS, Q2 2021 earnings at $0.71 EPS, Q3 2021 earnings at $0.86 EPS, Q4 2021 earnings at $0.76 EPS and FY2021 earnings at $2.98 EPS.
Several other analysts have also recently commented on CPRT. Robert W. Baird set a $85.00 price target on shares of Copart and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim cut shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target for the company. in a report on Friday, May 17th. JPMorgan Chase & Co. raised their price target on shares of Copart from $62.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday, May 27th. Finally, BidaskClub cut shares of Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Copart presently has an average rating of “Hold” and a consensus target price of $75.21.
Shares of CPRT opened at $80.88 on Friday. Copart has a one year low of $44.61 and a one year high of $83.55. The company has a 50-day moving average of $76.70 and a two-hundred day moving average of $69.86. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 1.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Copart had a net margin of 28.98% and a return on equity of 33.84%. The company had revenue of $542.60 million during the quarter, compared to analysts’ expectations of $517.84 million. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis.
In related news, insider William E. Franklin sold 41,007 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $77.37, for a total transaction of $3,172,711.59. Following the transaction, the insider now owns 58,974 shares of the company’s stock, valued at $4,562,818.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO A Jayson Adair sold 179,461 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $74.54, for a total transaction of $13,377,022.94. The disclosure for this sale can be found here. Company insiders own 15.99% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CPRT. Morgan Stanley raised its position in Copart by 64.3% during the second quarter. Morgan Stanley now owns 5,865,640 shares of the business services provider’s stock valued at $438,398,000 after acquiring an additional 2,296,528 shares in the last quarter. Nuveen Asset Management LLC raised its position in Copart by 8,848.6% during the second quarter. Nuveen Asset Management LLC now owns 1,459,779 shares of the business services provider’s stock valued at $109,104,000 after acquiring an additional 1,443,466 shares in the last quarter. BlackRock Inc. raised its position in Copart by 7.6% during the second quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock valued at $1,184,771,000 after acquiring an additional 1,114,752 shares in the last quarter. FMR LLC raised its position in Copart by 17.2% during the first quarter. FMR LLC now owns 7,226,373 shares of the business services provider’s stock valued at $437,846,000 after acquiring an additional 1,059,798 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Copart by 14.8% during the first quarter. Wells Fargo & Company MN now owns 3,762,177 shares of the business services provider’s stock valued at $227,951,000 after acquiring an additional 483,889 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.
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.