Copart, Inc. (NASDAQ:CPRT) – Investment analysts at Jefferies Financial Group raised their Q1 2022 EPS estimates for Copart in a report issued on Thursday, September 9th. Jefferies Financial Group analyst B. Jordan now anticipates that the business services provider will post earnings of $0.98 per share for the quarter, up from their previous forecast of $0.93. Jefferies Financial Group also issued estimates for Copart’s Q2 2022 earnings at $1.02 EPS, Q3 2022 earnings at $1.12 EPS, Q4 2022 earnings at $0.99 EPS, FY2022 earnings at $4.11 EPS, Q1 2023 earnings at $1.06 EPS, Q2 2023 earnings at $1.09 EPS, Q3 2023 earnings at $1.24 EPS and Q4 2023 earnings at $1.12 EPS.
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CPRT has been the topic of several other research reports. Robert W. Baird upped their target price on Copart from $130.00 to $150.00 and gave the company an “average” rating in a report on Friday. Barrington Research reiterated a “market perform” rating on shares of Copart in a report on Wednesday, September 8th. Zacks Investment Research downgraded shares of Copart from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, August 31st. Truist lifted their price target on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday. Finally, Truist Securities raised their price objective on Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $143.83.
CPRT opened at $143.23 on Monday. Copart has a 52 week low of $100.07 and a 52 week high of $149.07. The company has a quick ratio of 3.54, a current ratio of 3.63 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $142.73 and a two-hundred day moving average price of $127.85. The company has a market cap of $33.89 billion, a PE ratio of 36.82 and a beta of 1.03.
Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, September 7th. The business services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.12. The business had revenue of $748.63 million during the quarter, compared to the consensus estimate of $686.93 million. Copart had a return on equity of 29.98% and a net margin of 34.78%. The business’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in CPRT. Amundi acquired a new position in Copart during the 2nd quarter worth $300,576,000. Price T Rowe Associates Inc. MD lifted its holdings in Copart by 32.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,041,484 shares of the business services provider’s stock worth $796,449,000 after buying an additional 1,472,685 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Copart by 29.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,903,578 shares of the business services provider’s stock worth $514,610,000 after acquiring an additional 877,756 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Copart by 7,517.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 864,332 shares of the business services provider’s stock valued at $113,945,000 after acquiring an additional 852,985 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Copart during the 2nd quarter valued at approximately $94,657,000. 81.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Steven D. Cohan sold 80,000 shares of the company’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $139.46, for a total value of $11,156,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO A Jayson Adair sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $133.18, for a total value of $39,954,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 573,293 shares of company stock valued at $77,786,349. Insiders own 12.61% 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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