Copart, Inc. (CPRT) Releases Earnings Results
Copart, Inc. (NASDAQ:CPRT) posted its quarterly earnings results on Tuesday. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06, RTT News reports. The firm had revenue of $419.17 million for the quarter, compared to analysts’ expectations of $377.37 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. During the same period in the prior year, the business earned $0.29 EPS.
Shares of Copart (NASDAQ CPRT) opened at $36.70 on Wednesday. The company has a market capitalization of $8,393.16, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.35 and a beta of 1.24. Copart has a 12-month low of $26.48 and a 12-month high of $36.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.94 and a quick ratio of 1.91.
A number of equities analysts have recently weighed in on CPRT shares. Wolfe Research started coverage on Copart in a research report on Tuesday, November 7th. They set a “market perform” rating on the stock. CJS Securities reaffirmed an “outperform” rating and set a $42.00 target price on shares of Copart in a research report on Thursday, October 5th. Robert W. Baird upped their target price on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.00.
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In other news, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now directly owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the sale, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.
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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