Shares of Copart, Inc. (NASDAQ:CPRT) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $44.38, but opened at $46.92. Copart shares last traded at $46.92, with a volume of 2963400 shares changing hands.
The business services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. Copart had a net margin of 20.01% and a return on equity of 29.96%. The business had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $427.11 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 31.4% on a year-over-year basis.
CPRT has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, November 21st. BidaskClub cut shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Barrington Research restated a “hold” rating on shares of Copart in a report on Tuesday. Consumer Edge upgraded shares of Copart from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, Stephens upgraded shares of Copart from an “equal weight” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Monday, February 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.33.
Hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in Copart in the fourth quarter valued at $101,000. YorkBridge Wealth Partners LLC acquired a new stake in Copart in the fourth quarter valued at $108,000. Captrust Financial Advisors acquired a new stake in Copart in the fourth quarter valued at $172,000. Assetmark Inc. acquired a new stake in Copart in the fourth quarter valued at $196,000. Finally, Nadler Financial Group Inc. acquired a new stake in Copart in the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.
The stock has a market capitalization of $10,818.09, a P/E ratio of 36.66, a P/E/G ratio of 1.52 and a beta of 1.12. The company has a current ratio of 2.26, a quick ratio of 2.23 and a debt-to-equity ratio of 0.46.
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Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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