Copart, Inc. (NASDAQ:CPRT) – Investment analysts at Northcoast Research lowered their FY2019 earnings per share estimates for shares of Copart in a research report issued to clients and investors on Thursday, September 20th. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings per share of $2.22 for the year, down from their prior forecast of $2.32. Northcoast Research has a “Neutral” rating on the stock.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The business had revenue of $449.20 million during the quarter, compared to analysts’ expectations of $448.64 million. Copart had a return on equity of 29.92% and a net margin of 23.14%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share.

CPRT has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub downgraded shares of Copart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 4th. Barrington Research reissued a “hold” rating on shares of Copart in a research report on Monday, May 28th. JPMorgan Chase & Co. downgraded shares of Copart from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $48.00 to $47.00 in a research report on Friday. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.50.

NASDAQ:CPRT opened at $52.58 on Monday. The stock has a market capitalization of $12.21 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94. The company has a current ratio of 2.56, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. Copart has a 1-year low of $33.71 and a 1-year high of $67.08.

A number of hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its stake in Copart by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 46,211 shares of the business services provider’s stock valued at $2,354,000 after acquiring an additional 2,340 shares during the period. BlackRock Inc. lifted its stake in Copart by 4.7% during the 1st quarter. BlackRock Inc. now owns 17,080,908 shares of the business services provider’s stock valued at $869,932,000 after acquiring an additional 760,714 shares during the period. First Republic Investment Management Inc. lifted its stake in Copart by 10.1% during the 1st quarter. First Republic Investment Management Inc. now owns 10,111 shares of the business services provider’s stock valued at $515,000 after acquiring an additional 931 shares during the period. IBM Retirement Fund bought a new position in Copart during the 1st quarter valued at about $223,000. Finally, Group One Trading L.P. lifted its stake in Copart by 317.9% during the 1st quarter. Group One Trading L.P. now owns 5,942 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 4,520 shares during the period. 83.11% of the stock is currently owned by institutional investors.

In related news, insider William E. Franklin sold 90,000 shares of the stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $58.94, for a total transaction of $5,304,600.00. Following the sale, the insider now directly owns 107,462 shares of the company’s stock, valued at approximately $6,333,810.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.40% of the company’s stock.

About Copart

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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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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