Wall Street brokerages expect Copart, Inc. (NASDAQ:CPRT) to report sales of $572.13 million for the current quarter, Zacks reports. Five analysts have made estimates for Copart’s earnings, with the highest sales estimate coming in at $582.64 million and the lowest estimate coming in at $568.30 million. Copart reported sales of $484.90 million in the same quarter last year, which indicates a positive year over year growth rate of 18%. The company is scheduled to announce its next earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that Copart will report full-year sales of $2.36 billion for the current fiscal year, with estimates ranging from $2.34 billion to $2.38 billion. For the next fiscal year, analysts expect that the company will report sales of $2.57 billion, with estimates ranging from $2.50 billion to $2.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Copart.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, November 20th. The business services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.06. The business had revenue of $554.40 million for the quarter, compared to the consensus estimate of $544.46 million. Copart had a net margin of 32.59% and a return on equity of 34.06%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share.

Several brokerages recently commented on CPRT. BidaskClub upgraded shares of Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. SunTrust Banks raised their price objective on shares of Copart from $92.00 to $100.00 and gave the company an “average” rating in a research note on Friday, November 22nd. Guggenheim raised their price objective on shares of Copart from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, ValuEngine cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Copart has a consensus rating of “Hold” and a consensus price target of $85.60.

Shares of NASDAQ CPRT traded down $0.09 during midday trading on Tuesday, hitting $97.12. The company had a trading volume of 2,596,836 shares, compared to its average volume of 1,582,270. The company has a quick ratio of 2.24, a current ratio of 2.30 and a debt-to-equity ratio of 0.27. Copart has a twelve month low of $48.88 and a twelve month high of $97.36. The business has a 50-day simple moving average of $91.19 and a two-hundred day simple moving average of $82.69. The firm has a market capitalization of $22.60 billion, a price-to-earnings ratio of 33.37 and a beta of 0.80.

In related news, CEO A Jayson Adair sold 327,318 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $90.49, for a total value of $29,619,005.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 50,000 shares of Copart stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $95.33, for a total transaction of $4,766,500.00. The disclosure for this sale can be found here. Insiders sold 538,785 shares of company stock valued at $49,564,503 in the last quarter. Company insiders own 14.34% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Copart by 7.6% during the second quarter. BlackRock Inc. now owns 15,851,891 shares of the business services provider’s stock worth $1,184,771,000 after acquiring an additional 1,114,752 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Copart by 1.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,011,968 shares of the business services provider’s stock worth $823,034,000 after acquiring an additional 208,461 shares during the last quarter. Morgan Stanley raised its position in Copart by 64.3% during the second quarter. Morgan Stanley now owns 5,865,640 shares of the business services provider’s stock worth $438,398,000 after acquiring an additional 2,296,528 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Copart by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,411,671 shares of the business services provider’s stock worth $193,729,000 after acquiring an additional 196,523 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Copart by 8,848.6% during the second quarter. Nuveen Asset Management LLC now owns 1,459,779 shares of the business services provider’s stock worth $109,104,000 after acquiring an additional 1,443,466 shares during the last quarter. Institutional investors own 78.73% of the company’s stock.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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