Copart, Inc. (NASDAQ:CPRT) announced its quarterly earnings data on Tuesday. The business services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.04, RTT News reports. Copart had a return on equity of 33.20% and a net margin of 29.10%. The company had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. During the same quarter last year, the firm earned $0.31 EPS. Copart’s revenue for the quarter was up 13.8% compared to the same quarter last year.
Copart (NASDAQ:CPRT) opened at 32.54 on Wednesday. Copart has a 52-week low of $24.91 and a 52-week high of $33.10. The company has a market cap of $7.49 billion, a P/E ratio of 18.78 and a beta of 1.19. The company’s 50 day moving average price is $31.93 and its 200 day moving average price is $36.82.
Several analysts have recently weighed in on CPRT shares. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Jefferies Group LLC lifted their price objective on Copart from $30.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.75.
Several institutional investors have recently bought and sold shares of CPRT. Advisors Asset Management Inc. grew its position in shares of Copart by 6.4% in the first quarter. Advisors Asset Management Inc. now owns 8,727 shares of the business services provider’s stock valued at $540,000 after purchasing an additional 524 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of Copart in the first quarter valued at approximately $207,000. Comerica Bank grew its position in Copart by 12.7% during the first quarter. Comerica Bank now owns 86,533 shares of the business services provider’s stock worth $2,698,000 after buying an additional 9,735 shares in the last quarter. Swiss National Bank grew its position in Copart by 5.4% during the first quarter. Swiss National Bank now owns 170,600 shares of the business services provider’s stock worth $10,565,000 after buying an additional 8,800 shares in the last quarter. Finally, World Asset Management Inc grew its position in Copart by 16.8% during the first quarter. World Asset Management Inc now owns 7,137 shares of the business services provider’s stock worth $442,000 after buying an additional 1,029 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.
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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