Wall Street analysts expect Copart, Inc. (NASDAQ:CPRT) to post $446.35 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Copart’s earnings, with the highest sales estimate coming in at $460.63 million and the lowest estimate coming in at $438.80 million. Copart posted sales of $378.60 million in the same quarter last year, which suggests a positive year over year growth rate of 17.9%. The firm is scheduled to issue its next earnings report on Tuesday, September 18th.

According to Zacks, analysts expect that Copart will report full-year sales of $1.80 billion for the current financial year, with estimates ranging from $1.77 billion to $1.82 billion. For the next year, analysts anticipate that the company will post sales of $1.92 billion per share, with estimates ranging from $1.81 billion to $2.01 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Copart.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $478.20 million for the quarter, compared to analyst estimates of $434.74 million. Copart had a return on equity of 31.21% and a net margin of 21.81%. During the same period in the previous year, the firm earned $0.38 earnings per share.

CPRT has been the topic of a number of recent analyst reports. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, July 17th. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. BidaskClub downgraded Copart from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 23rd. Stephens downgraded Copart from an “overweight” rating to an “equal weight” rating in a report on Friday, May 18th. Finally, Barrington Research reiterated a “hold” rating on shares of Copart in a report on Tuesday, May 22nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $51.38.

In other Copart news, insider William E. Franklin sold 100,000 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $57.52, for a total value of $5,752,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO A Jayson Adair sold 200,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $57.47, for a total value of $11,494,000.00. The disclosure for this sale can be found here. Insiders have sold 640,000 shares of company stock worth $36,991,100 in the last quarter. 16.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Advisors Inc. grew its stake in Copart by 88.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 926 shares in the last quarter. First Republic Investment Management Inc. grew its stake in Copart by 10.1% in the first quarter. First Republic Investment Management Inc. now owns 10,111 shares of the business services provider’s stock valued at $515,000 after purchasing an additional 931 shares in the last quarter. Navellier & Associates Inc grew its stake in Copart by 3.4% in the first quarter. Navellier & Associates Inc now owns 30,400 shares of the business services provider’s stock valued at $1,548,000 after purchasing an additional 994 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in Copart by 3.1% in the first quarter. Hanseatic Management Services Inc. now owns 33,749 shares of the business services provider’s stock valued at $1,719,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Copart by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,793 shares of the business services provider’s stock valued at $652,000 after purchasing an additional 1,109 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Shares of Copart traded up $0.23, reaching $60.23, on Friday, MarketBeat Ratings reports. 751,782 shares of the company were exchanged, compared to its average volume of 1,226,710. The firm has a market capitalization of $13.94 billion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The company has a quick ratio of 2.27, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. Copart has a fifty-two week low of $30.87 and a fifty-two week high of $60.72.

About Copart

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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