Copart, Inc. (NASDAQ:CPRT – Get Rating) – Stock analysts at Jefferies Financial Group lowered their Q1 2023 EPS estimates for shares of Copart in a report issued on Thursday, September 8th. Jefferies Financial Group analyst B. Jordan now forecasts that the business services provider will earn $1.06 per share for the quarter, down from their previous estimate of $1.08. The consensus estimate for Copart’s current full-year earnings is $4.74 per share. Jefferies Financial Group also issued estimates for Copart’s Q2 2023 earnings at $1.13 EPS, FY2023 earnings at $4.64 EPS, Q2 2024 earnings at $1.20 EPS and Q3 2024 earnings at $1.32 EPS.
CPRT has been the subject of several other research reports. Guggenheim reduced their price target on shares of Copart to $151.00 in a research report on Friday, May 20th. Robert W. Baird cut their target price on shares of Copart from $150.00 to $135.00 in a research report on Friday. Finally, Stephens increased their target price on shares of Copart to $145.00 and gave the stock an “overweight” rating in a research report on Friday, May 20th.
Copart Stock Performance
Copart (NASDAQ:CPRT – Get Rating) last issued its quarterly earnings results on Wednesday, September 7th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $883.39 million during the quarter, compared to the consensus estimate of $874.14 million. Copart had a net margin of 31.14% and a return on equity of 25.53%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of CPRT. Norges Bank acquired a new position in shares of Copart during the 4th quarter worth $279,931,000. Principal Financial Group Inc. grew its stake in Copart by 19.5% in the 1st quarter. Principal Financial Group Inc. now owns 9,516,210 shares of the business services provider’s stock valued at $1,194,000,000 after buying an additional 1,552,884 shares during the last quarter. Boston Partners acquired a new position in Copart in the 1st quarter valued at $137,142,000. FMR LLC grew its stake in Copart by 23.0% in the 2nd quarter. FMR LLC now owns 4,879,233 shares of the business services provider’s stock valued at $530,178,000 after buying an additional 913,619 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in Copart by 759.1% in the 1st quarter. Flossbach Von Storch AG now owns 781,744 shares of the business services provider’s stock valued at $98,085,000 after buying an additional 690,744 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Copart (CPRT)
- Can Electronic Arts Buck the Downturn in Videogaming?
- Dollar General is the Big Fish in Little Ponds Across the U.S.
- Here’s Why the CPI Report will Dictate the Market Bottom
- MarketBeat: Week in Review 9/5 – 9/9
- Prepare For A Record-Setting Quarter For Cyber Security Stocks
Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.