Copart (CPRT) Scheduled to Post Quarterly Earnings on Tuesday

Copart (NASDAQ:CPRT – Get Rating) will be issuing its quarterly earnings data after the market closes on Tuesday, May 16th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Copart (NASDAQ:CPRT – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $956.72 million for the quarter, compared to analysts’ expectations of $934.36 million. Copart had a return on equity of 22.93% and a net margin of 29.45%. During the same period last year, the firm posted $0.55 EPS. On average, analysts expect Copart to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Copart Stock Up 1.5 %

CPRT opened at $81.81 on Friday. The business has a 50 day moving average of $74.96 and a 200-day moving average of $67.78. The stock has a market cap of $38.99 billion, a PE ratio of 36.36 and a beta of 1.23. Copart has a 52 week low of $51.10 and a 52 week high of $81.92.

Insider Activity at Copart

In other news, Director Matt Blunt sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total value of $2,080,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.19% of the company’s stock.

Institutional Investors Weigh In On Copart

Hedge funds have recently made changes to their positions in the stock. Veritable L.P. increased its holdings in shares of Copart by 0.9% in the first quarter. Veritable L.P. now owns 15,198 shares of the business services provider’s stock valued at $1,143,000 after purchasing an additional 136 shares in the last quarter. Retirement Systems of Alabama grew its stake in Copart by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 71,048 shares of the business services provider’s stock valued at $7,560,000 after buying an additional 189 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Copart by 3.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 5,640 shares of the business services provider’s stock worth $600,000 after purchasing an additional 213 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Copart by 11.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,520 shares of the business services provider’s stock worth $274,000 after acquiring an additional 260 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in Copart by 67.1% in the 4th quarter. 1832 Asset Management L.P. now owns 812 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 326 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $78.00 price target on shares of Copart in a research note on Tuesday, February 21st. StockNews.com initiated coverage on Copart in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research report on Monday, May 1st. Guggenheim upped their price objective on Copart from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Finally, Robert W. Baird increased their target price on Copart from $74.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

About Copart

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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.