Copart, Inc. (NASDAQ:CPRT) Expected to Announce Quarterly Sales of $862.59 Million

Analysts expect Copart, Inc. (NASDAQ:CPRTGet Rating) to post $862.59 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Copart’s earnings. The highest sales estimate is $881.05 million and the lowest is $833.12 million. Copart reported sales of $733.91 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.5%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Copart will report full year sales of $3.37 billion for the current financial year, with estimates ranging from $3.33 billion to $3.43 billion. For the next financial year, analysts forecast that the company will report sales of $3.61 billion, with estimates ranging from $3.54 billion to $3.63 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Copart.

Copart (NASDAQ:CPRTGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm had revenue of $867.46 million during the quarter, compared to analysts’ expectations of $806.99 million. Copart had a net margin of 34.51% and a return on equity of 28.18%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS.

Several brokerages have recently commented on CPRT. Robert W. Baird lowered their price target on shares of Copart from $170.00 to $160.00 in a research report on Friday, February 18th. StockNews.com began coverage on shares of Copart in a research report on Thursday, March 31st. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.33.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CX Institutional grew its holdings in Copart by 1.1% during the third quarter. CX Institutional now owns 6,302 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 69 shares during the period. Roundview Capital LLC grew its holdings in Copart by 0.8% during the fourth quarter. Roundview Capital LLC now owns 10,564 shares of the business services provider’s stock valued at $1,602,000 after purchasing an additional 83 shares during the period. YorkBridge Wealth Partners LLC grew its holdings in Copart by 3.0% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,924 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 84 shares during the period. Pallas Capital Advisors LLC grew its holdings in Copart by 1.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,978 shares of the business services provider’s stock valued at $757,000 after purchasing an additional 85 shares during the period. Finally, Freedom Day Solutions LLC lifted its stake in Copart by 0.5% in the fourth quarter. Freedom Day Solutions LLC now owns 17,400 shares of the business services provider’s stock valued at $2,638,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

CPRT opened at $114.11 on Wednesday. Copart has a 1-year low of $106.37 and a 1-year high of $161.12. The firm has a 50-day moving average price of $122.17 and a two-hundred day moving average price of $135.85. The company has a current ratio of 5.24, a quick ratio of 5.11 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $27.10 billion, a PE ratio of 25.25 and a beta of 1.13.

About Copart (Get Rating)

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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