FY2017 EPS Estimates for Copart Inc. (CPRT) Boosted by Gabelli
Copart Inc. (NASDAQ:CPRT) – Investment analysts at Gabelli increased their FY2017 earnings estimates for shares of Copart in a research note issued to investors on Wednesday. Gabelli analyst M. Paige now anticipates that the firm will post earnings per share of $2.35 for the year, up from their previous forecast of $2.30. Gabelli also issued estimates for Copart’s FY2018 earnings at $2.60 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a report on Wednesday, August 3rd. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Susquehanna started coverage on Copart in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Jefferies Group reiterated a “hold” rating on shares of Copart in a report on Thursday, August 4th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Copart presently has an average rating of “Hold” and a consensus target price of $55.57.
Shares of Copart (NASDAQ:CPRT) opened at 54.51 on Thursday. The company has a market cap of $6.14 billion, a P/E ratio of 16.98 and a beta of 0.95. The firm has a 50 day moving average price of $53.64 and a 200-day moving average price of $50.62. Copart has a 12 month low of $32.26 and a 12 month high of $56.98.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Copart had a return on equity of 36.22% and a net margin of 29.00%. The company earned $345.99 million during the quarter, compared to the consensus estimate of $326.11 million. During the same quarter last year, the company earned $0.42 EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of CPRT. Salem Investment Counselors Inc. bought a new stake in shares of Copart during the third quarter worth about $110,000. Advisor Group Inc. bought a new stake in shares of Copart during the second quarter worth about $143,000. Cutler Group LP increased its stake in shares of Copart by 64.6% in the third quarter. Cutler Group LP now owns 3,291 shares of the company’s stock worth $176,000 after buying an additional 1,291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Copart by 12.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,569 shares of the company’s stock worth $191,000 after buying an additional 392 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Copart during the second quarter worth about $201,000. 78.50% of the stock is currently owned by institutional investors.
In other news, Director Matt Blunt sold 65,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $53.53, for a total value of $3,479,450.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $802,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 26,075 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $54.14, for a total value of $1,411,700.50. Following the completion of the transaction, the director now directly owns 26,075 shares in the company, valued at approximately $1,411,700.50. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.
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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