Trading Report: Today, Barrington Research Analysts Increase Earnings Estimates for Copart Inc. (CPRT)

Today, Barrington Research Analysts Increase Earnings Estimates for Copart Inc. (CPRT)

Copart Inc. (NASDAQ:CPRT) – Stock analysts at Barrington Research increased their Q2 2017 earnings estimates for Copart in a research note issued to investors on Wednesday. Barrington Research analyst G. Prestopino now anticipates that the firm will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.56. Barrington Research has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Copart’s Q3 2017 earnings at $0.76 EPS, FY2017 earnings at $2.53 EPS, Q1 2018 earnings at $0.64 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.86 EPS and FY2018 earnings at $2.81 EPS.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Copart had a return on equity of 35.43% and a net margin of 29.00%. The firm 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 firm posted $0.42 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis.

Several other research analysts have also issued reports on CPRT. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Jefferies Group reissued a “hold” rating on shares of Copart in a research report on Thursday, August 4th. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Susquehanna initiated coverage on Copart in a research report on Thursday, August 25th. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $63.00 in a research report on Friday, September 23rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.57.

Copart (NASDAQ:CPRT) opened at 54.63 on Thursday. The firm has a 50-day moving average price of $53.67 and a 200-day moving average price of $50.70. Copart has a one year low of $32.26 and a one year high of $56.98. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 17.02 and a beta of 0.95.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Copart by 1.5% in the first quarter. Geode Capital Management LLC now owns 670,565 shares of the company’s stock valued at $27,338,000 after buying an additional 10,107 shares during the last quarter. Arizona State Retirement System increased its stake in Copart by 3.3% in the first quarter. Arizona State Retirement System now owns 53,425 shares of the company’s stock valued at $2,178,000 after buying an additional 1,700 shares during the last quarter. Royal Bank of Canada increased its stake in Copart by 3.1% in the first quarter. Royal Bank of Canada now owns 480,158 shares of the company’s stock valued at $19,577,000 after buying an additional 14,257 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Copart by 4,581.7% in the second quarter. BNP Paribas Arbitrage SA now owns 51,686 shares of the company’s stock valued at $2,533,000 after buying an additional 50,582 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Copart during the second quarter valued at approximately $276,000. Institutional investors own 78.50% of the company’s stock.

In related news, insider William E. Franklin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was 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 accessible through this hyperlink. Also, COO Sean Eldridge sold 22,485 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $1,205,420.85. Following the completion of the sale, the chief operating officer now owns 23,317 shares in the company, valued at approximately $1,250,024.37. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Copart Company Profile

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