Copart, Inc. (NASDAQ:CPRT) – Investment analysts at Gabelli lifted their FY2019 earnings per share (EPS) estimates for shares of Copart in a note issued to investors on Thursday, September 20th, Zacks Investment Research reports. Gabelli analyst M. Paige now expects that the business services provider will post earnings of $2.20 per share for the year, up from their previous forecast of $2.05. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Copart’s FY2023 earnings at $4.20 EPS.
A number of other equities research analysts have also commented on the stock. BidaskClub lowered shares of Copart from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th. Barrington Research restated a “hold” rating on shares of Copart in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, September 18th. ValuEngine lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. lowered shares of Copart from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $48.00 to $47.00 in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $55.14.
Shares of NASDAQ:CPRT traded up $1.33 during midday trading on Friday, reaching $50.38. 2,159,025 shares of the company were exchanged, compared to its average volume of 2,075,697. Copart has a fifty-two week low of $35.32 and a fifty-two week high of $67.08. The company has a quick ratio of 2.27, a current ratio of 2.56 and a debt-to-equity ratio of 0.25. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 1.04 and a beta of 1.00.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Copart had a return on equity of 29.92% and a net margin of 23.14%. The company had revenue of $449.20 million for the quarter, compared to analyst estimates of $448.64 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its position in Copart by 88.2% in the third quarter. Bank of Montreal Can now owns 214,279 shares of the business services provider’s stock valued at $11,042,000 after purchasing an additional 100,420 shares in the last quarter. Clinton Group Inc. bought a new position in Copart in the third quarter valued at $4,424,000. Pennsylvania Trust Co bought a new position in Copart in the third quarter valued at $3,824,000. We Are One Seven LLC bought a new position in Copart in the third quarter valued at $333,000. Finally, Atria Investments LLC grew its position in Copart by 81.5% in the third quarter. Atria Investments LLC now owns 35,729 shares of the business services provider’s stock valued at $1,841,000 after purchasing an additional 16,041 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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