Copart (NASDAQ:CPRT) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Copart (NASDAQ:CPRT) announced its quarterly earnings data on Thursday. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03), FiscalAI reports. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion.

Copart Stock Down 0.3%

NASDAQ:CPRT traded down $0.10 on Thursday, reaching $37.65. 11,152,304 shares of the company’s stock were exchanged, compared to its average volume of 8,881,598. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 22.96 and a beta of 1.08. Copart has a 52-week low of $36.52 and a 52-week high of $63.85. The business has a fifty day moving average of $39.51 and a 200-day moving average of $42.69.

Analyst Ratings Changes

Several research firms have recently weighed in on CPRT. Robert W. Baird dropped their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. JPMorgan Chase & Co. reduced their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Barclays reissued an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Finally, CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently made changes to their positions in CPRT. Quadrant Capital Group LLC raised its holdings in Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after acquiring an additional 264 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after purchasing an additional 266 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Copart by 11.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after purchasing an additional 288 shares in the last quarter. American Trust increased its holdings in Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock valued at $640,000 after buying an additional 295 shares during the last quarter. Finally, ICW Investment Advisors LLC raised its stake in Copart by 4.3% in the second quarter. ICW Investment Advisors LLC now owns 7,382 shares of the business services provider’s stock valued at $362,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.