Northcoast Research Comments on Copart Inc.’s FY2016 Earnings (CPRT)
Copart Inc. (NASDAQ:CPRT) – Equities research analysts at Northcoast Research increased their FY2016 EPS estimates for shares of Copart in a report released on Thursday. Northcoast Research analyst J. Healy now forecasts that the firm will post earnings of $2.06 per share for the year, up from their previous estimate of $2.00. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Copart’s FY2017 earnings at $2.39 EPS.
Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The firm earned $332.70 million during the quarter. Copart had a net margin of 19.93% and a return on equity of 28.32%. Copart’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share.
Several other brokerages have also recently weighed in on CPRT. Susquehanna assumed coverage on shares of Copart in a research note on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target for the company. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Jefferies Group reaffirmed a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Copart from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, May 27th. Eight research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $52.00.
Copart (NASDAQ:CPRT) opened at 51.41 on Monday. The company’s 50-day moving average is $51.05 and its 200 day moving average is $46.70. The firm has a market capitalization of $5.62 billion, a PE ratio of 26.40 and a beta of 0.99. Copart has a 1-year low of $32.26 and a 1-year high of $53.70.
In related news, SVP Paul A. Styer sold 7,640 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total value of $376,346.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert H. Vannuccini sold 12,577 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $49.96, for a total transaction of $628,346.92. Following the completion of the transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at $484,761.88. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in CPRT. Burgundy Asset Management Ltd. boosted its position in Copart by 2.9% in the first quarter. Burgundy Asset Management Ltd. now owns 174,552 shares of the company’s stock valued at $7,116,000 after buying an additional 5,000 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in Copart by 548.4% in the first quarter. Landscape Capital Management L.L.C. now owns 90,775 shares of the company’s stock valued at $3,701,000 after buying an additional 76,775 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Copart by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 89,645 shares of the company’s stock valued at $3,655,000 after buying an additional 19,317 shares in the last quarter. BlackRock Group LTD boosted its position in Copart by 56.0% in the first quarter. BlackRock Group LTD now owns 85,625 shares of the company’s stock valued at $3,491,000 after buying an additional 30,723 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Copart by 40.0% in the first quarter. BlackRock Inc. now owns 51,261 shares of the company’s stock valued at $2,090,000 after buying an additional 14,634 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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