Northcoast Research Equities Analysts Lower Earnings Estimates for Copart Inc. (CPRT)
Copart Inc. (NASDAQ:CPRT) – Research analysts at Northcoast Research reduced their Q2 2017 earnings per share (EPS) estimates for shares of Copart in a report released on Wednesday. Northcoast Research analyst J. Healy now forecasts that the brokerage will post earnings per share of $0.57 for the quarter, down from their prior estimate of $0.58. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Copart’s Q3 2017 earnings at $0.71 EPS and FY2017 earnings at $2.50 EPS.
CPRT has been the topic of a number of other reports. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Monday, September 26th. Stephens lowered shares of Copart from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 23rd. Jefferies Group raised their price target on shares of Copart from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Bank of America Corp. raised shares of Copart from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $63.00 in a research report on Friday, September 23rd. Finally, Barrington Research lowered shares of Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.57.
Copart (NASDAQ:CPRT) opened at 54.63 on Monday. The stock’s 50 day moving average is $53.67 and its 200-day moving average is $50.70. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 17.02 and a beta of 0.95. Copart has a 12 month low of $32.26 and a 12 month high of $56.98.
Copart (NASDAQ:CPRT) last announced its earnings results on Monday, November 21st. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Copart had a net margin of 29.00% and a return on equity of 35.43%. The company had revenue of $345.99 million for the quarter, compared to analyst estimates of $326.11 million. During the same period in the prior year, the business earned $0.42 earnings per share. Copart’s quarterly revenue was up 19.8% on a year-over-year basis.
In other news, insider William E. Franklin sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total value of $5,295,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Meeks sold 26,075 shares of the firm’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 transaction of $1,411,700.50. Following the completion of the sale, the director now owns 26,075 shares in the company, valued at $1,411,700.50. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CPRT. Salem Investment Counselors Inc. bought a new stake in Copart during the third quarter worth $110,000. Advisor Group Inc. bought a new stake in Copart during the second quarter worth $143,000. Cutler Group LP increased its stake in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $191,000 after buying an additional 392 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Copart during the second quarter worth $201,000. Institutional investors own 79.89% of the company’s stock.
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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