Copart, Inc. (NASDAQ:CPRT) – Equities research analysts at Northcoast Research upped their Q4 2017 earnings estimates for shares of Copart in a research note issued to investors on Monday. Northcoast Research analyst J. Healy now forecasts that the business services provider will earn $0.32 per share for the quarter, up from their previous forecast of $0.31.
CPRT has been the topic of several other research reports. Jefferies Group LLC increased their target price on shares of Copart from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, May 30th. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Copart has a consensus rating of “Hold” and an average price target of $47.75.
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Shares of Copart (NASDAQ:CPRT) traded up 0.03% during midday trading on Tuesday, reaching $33.87. 153,295 shares of the company’s stock were exchanged. The stock has a market cap of $7.80 billion, a PE ratio of 19.54 and a beta of 1.19. The stock’s 50 day moving average is $31.93 and its 200-day moving average is $36.82. Copart has a 12-month low of $24.91 and a 12-month high of $34.21.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 33.56%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Copart by 103.5% in the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock valued at $514,387,000 after acquiring an additional 8,230,677 shares during the period. BlackRock Inc. grew its holdings in shares of Copart by 103.6% in the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock worth $511,611,000 after purchasing an additional 8,189,852 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Copart by 91.4% in the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock worth $334,636,000 after purchasing an additional 5,025,918 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Copart by 30.6% in the second quarter. Lazard Asset Management LLC now owns 8,842,644 shares of the business services provider’s stock worth $281,107,000 after purchasing an additional 2,070,426 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Copart by 106.5% in the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after purchasing an additional 3,826,242 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Copart Company Profile
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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