Northcoast Research Comments on Copart Inc.’s Q1 2017 Earnings (CPRT)
Copart Inc. (NASDAQ:CPRT) – Research analysts at Northcoast Research upped their Q1 2017 earnings per share (EPS) estimates for shares of Copart in a note issued to investors on Friday. Northcoast Research analyst J. Healy now forecasts that the firm will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.52. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Copart’s Q2 2017 earnings at $0.58 EPS, Q3 2017 earnings at $0.73 EPS, FY2017 earnings at $2.52 EPS and FY2018 earnings at $2.81 EPS.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $345.99 million for the quarter, compared to analysts’ expectations of $326.11 million. Copart had a net margin of 29.00% and a return on equity of 36.22%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share.
CPRT has been the subject 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 Wednesday, September 14th. Bank of America Corp. raised shares of Copart from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $63.00 in a research report on Friday, September 23rd. Stephens set a $61.00 target price on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 22nd. Susquehanna started coverage on shares of Copart in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price for the company. Finally, Barrington Research downgraded shares of Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.57.
Copart (NASDAQ:CPRT) opened at 53.73 on Monday. Copart has a 52 week low of $32.26 and a 52 week high of $56.98. The company has a 50-day moving average of $53.61 and a 200-day moving average of $50.59. The company has a market capitalization of $6.13 billion, a PE ratio of 24.31 and a beta of 0.95.
A number of hedge funds have recently bought and sold shares of CPRT. Salem Investment Counselors Inc. purchased a new stake in Copart during the third quarter valued at about $110,000. Advisor Group Inc. purchased a new stake in Copart during the second quarter valued at about $143,000. Cutler Group LP boosted its stake in Copart by 64.6% in the third quarter. Cutler Group LP now owns 3,291 shares of the company’s stock valued at $176,000 after buying an additional 1,291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Copart by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,569 shares of the company’s stock valued at $191,000 after buying an additional 392 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Copart during the second quarter valued at about $201,000. Institutional investors and hedge funds own 78.50% of the company’s stock.
In other Copart news, Director James E. Meeks sold 64,222 shares of the stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $54.09, for a total value of $3,473,767.98. Following the sale, the director now directly owns 13,925 shares in the company, valued at approximately $753,203.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William E. Franklin sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $52.95, for a total transaction of $5,295,000.00. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: This news story was first reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2016/11/23/northcoast-research-comments-on-copart-inc-s-q1-2017-earnings-cprt.html.
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.
Receive News & Stock Ratings for Copart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart Inc. and related stocks with our FREE daily email newsletter.