Today, Gabelli Comments on Copart Inc.’s FY2017 Earnings (CPRT)

Today, Gabelli Comments on Copart Inc.’s FY2017 Earnings (CPRT)

Copart Inc. (NASDAQ:CPRT) – Gabelli increased their FY2017 earnings per share (EPS) estimates for shares of Copart in a report issued on Wednesday. Gabelli analyst M. Paige now expects that the brokerage will post earnings of $2.35 per share for the year, up from their previous estimate of $2.30. Gabelli also issued estimates for Copart’s FY2018 earnings at $2.60 EPS.

Other analysts have also recently issued reports about the company. Stephens set a $61.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Monday, September 26th. Jefferies Group increased their target price on Copart from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd. Northcoast Research cut Copart from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Finally, Barrington Research cut Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.57.

Shares of Copart (NASDAQ:CPRT) opened at 54.63 on Thursday. The stock has a 50 day moving average of $53.67 and a 200-day moving average of $50.70. The firm has a market capitalization of $6.16 billion, a PE ratio of 17.02 and a beta of 0.95. Copart has a 52 week low of $32.26 and a 52 week high of $56.98.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. Copart had a net margin of 29.00% and a return on equity of 35.43%. The business earned $345.99 million during the quarter, compared to analysts’ expectations of $326.11 million. During the same period in the previous year, the company earned $0.42 earnings per share. Copart’s revenue for the quarter was up 19.8% on a year-over-year basis.

Several institutional investors have recently added to or reduced their stakes in CPRT. Lazard Asset Management LLC boosted its position in Copart by 10.7% in the third quarter. Lazard Asset Management LLC now owns 7,676,299 shares of the company’s stock valued at $411,142,000 after buying an additional 740,773 shares in the last quarter. Principal Financial Group Inc. boosted its position in Copart by 2.7% in the third quarter. Principal Financial Group Inc. now owns 3,680,433 shares of the company’s stock valued at $197,125,000 after buying an additional 95,287 shares in the last quarter. BlackRock Fund Advisors boosted its position in Copart by 2.3% in the third quarter. BlackRock Fund Advisors now owns 3,565,895 shares of the company’s stock valued at $190,989,000 after buying an additional 80,384 shares in the last quarter. Wasatch Advisors Inc. boosted its position in Copart by 2.0% in the third quarter. Wasatch Advisors Inc. now owns 3,430,615 shares of the company’s stock valued at $183,744,000 after buying an additional 66,774 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Copart by 4.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,575,559 shares of the company’s stock valued at $137,947,000 after buying an additional 119,649 shares in the last quarter. 78.50% of the stock is owned by institutional investors and hedge funds.

In related news, insider William E. Franklin sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $52.95, for a total value of $5,295,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sean Eldridge sold 22,485 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $53.61, for a total transaction of $1,205,420.85. Following the completion of the transaction, the chief operating officer now directly owns 23,317 shares of the company’s stock, valued at $1,250,024.37. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

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