Copart, Inc. Expected to Earn FY2019 Earnings of $2.00 Per Share (CPRT)
Copart, Inc. (NASDAQ:CPRT) – Northcoast Research increased their FY2019 earnings per share estimates for Copart in a research note issued to investors on Tuesday. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $2.00 for the year, up from their prior forecast of $1.67.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Thursday, February 8th. BidaskClub upgraded Copart from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Stephens upgraded Copart from an “equal weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a report on Monday, February 12th. Barrington Research reiterated a “hold” rating on shares of Copart in a report on Tuesday. Finally, Jefferies Group reiterated a “hold” rating and issued a $47.00 price objective on shares of Copart in a report on Tuesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.17.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Monday, February 26th. The business services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. Copart had a return on equity of 30.94% and a net margin of 20.95%. The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $427.11 million. During the same quarter in the prior year, the business earned $0.29 EPS. Copart’s revenue was up 31.4% on a year-over-year basis.
In related news, Director Daniel J. Englander sold 68,004 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $43.38, for a total value of $2,950,013.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new stake in shares of Copart in the 4th quarter valued at about $793,000. Envestnet Asset Management Inc. boosted its position in shares of Copart by 6.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 151,218 shares of the business services provider’s stock valued at $6,531,000 after purchasing an additional 9,672 shares during the period. We Are One Seven LLC acquired a new stake in shares of Copart in the 4th quarter valued at about $307,000. Alkeon Capital Management LLC acquired a new stake in shares of Copart in the 4th quarter valued at about $38,843,000. Finally, Ashford Capital Management Inc. boosted its position in shares of Copart by 0.5% in the 4th quarter. Ashford Capital Management Inc. now owns 465,912 shares of the business services provider’s stock valued at $20,123,000 after purchasing an additional 2,110 shares during the period. 77.97% of the stock is owned by hedge funds and other institutional investors.
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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