Copart, Inc. (NASDAQ:CPRT)’s share price hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $70.47 and last traded at $69.17, with a volume of 913381 shares traded. The stock had previously closed at $64.79.

The business services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Copart had a return on equity of 30.20% and a net margin of 25.75%. The business had revenue of $553.12 million for the quarter, compared to analyst estimates of $535.62 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis.

A number of analysts have recently weighed in on the company. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 7th. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. SunTrust Banks upped their price objective on Copart to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Guggenheim lowered Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective on the stock. in a research report on Friday, May 17th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.52.

Large investors have recently bought and sold shares of the stock. CSat Investment Advisory L.P. increased its holdings in Copart by 120.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock valued at $25,000 after buying an additional 283 shares during the last quarter. Doyle Wealth Management purchased a new position in Copart in the fourth quarter valued at $29,000. One Wealth Advisors LLC purchased a new position in Copart in the first quarter valued at $33,000. Icon Wealth Partners LLC purchased a new position in Copart in the first quarter valued at $34,000. Finally, Cresset Asset Management LLC purchased a new position in Copart in the first quarter valued at $38,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market cap of $15.05 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.61.

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About Copart (NASDAQ:CPRT)

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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