Copart (NASDAQ:CPRT) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Copart (NASDAQ:CPRT – Get Rating) released its quarterly earnings data on Wednesday. The business services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03, MarketWatch Earnings reports. Copart had a return on equity of 28.18% and a net margin of 34.51%. During the same period last year, the company posted $1.09 EPS.

NASDAQ:CPRT traded up $0.81 during mid-day trading on Thursday, reaching $107.36. The stock had a trading volume of 6,447 shares, compared to its average volume of 1,130,059. The stock has a 50-day simple moving average of $119.66 and a two-hundred day simple moving average of $131.92. The stock has a market capitalization of $25.50 billion, a PE ratio of 23.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.24 and a quick ratio of 5.11. Copart has a 12 month low of $105.41 and a 12 month high of $161.12.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in Copart by 163.5% in the fourth quarter. NewEdge Advisors LLC now owns 3,818 shares of the business services provider’s stock valued at $579,000 after buying an additional 2,369 shares during the period. Atria Wealth Solutions Inc. bought a new stake in Copart in the 1st quarter worth about $504,000. Horizon Investments LLC boosted its stake in Copart by 138.2% in the first quarter. Horizon Investments LLC now owns 3,728 shares of the business services provider’s stock valued at $468,000 after acquiring an additional 2,163 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Copart in the fourth quarter valued at about $414,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Copart by 1,212.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after acquiring an additional 2,873 shares during the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

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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