Copart Inc. (NASDAQ:CPRT) – Equities researchers at Northcoast Research dropped their Q2 2017 earnings estimates for shares of Copart in a note issued to investors on Wednesday. Northcoast Research analyst J. Healy now expects that the firm will post earnings per share of $0.57 for the quarter, down from their previous forecast of $0.58. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Copart’s Q3 2017 earnings at $0.71 EPS and FY2017 earnings at $2.50 EPS.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.57 earnings per share (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 business had revenue of $345.99 million for the quarter, compared to the consensus estimate of $326.11 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year.

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Earnings History and Estimates for Copart (NASDAQ:CPRT)

A number of other research firms have also weighed in on CPRT. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday, September 26th. Stephens lowered Copart from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 23rd. Jefferies Group lifted their price target on Copart from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 22nd. Bank of America Corp. upgraded Copart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $63.00 in a research note on Friday, September 23rd. Finally, Barrington Research lowered Copart from an “outperform” rating to a “market perform” rating in a research note on Friday, September 23rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.57.

Shares of Copart (NASDAQ:CPRT) opened at 54.32 on Monday. The firm’s 50-day moving average price is $53.70 and its 200-day moving average price is $50.89. The stock has a market capitalization of $6.12 billion, a P/E ratio of 16.92 and a beta of 0.95. Copart has a 12 month low of $32.26 and a 12 month high of $56.98.

A number of large investors have recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in Copart during the second quarter valued at about $106,925,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Copart by 5.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,060 shares of the company’s stock valued at $836,000 after buying an additional 840 shares in the last quarter. British Airways Pensions Investment Management Ltd bought a new position in shares of Copart during the second quarter valued at $12,096,000. West Coast Financial LLC boosted its position in shares of Copart by 0.7% in the second quarter. West Coast Financial LLC now owns 104,472 shares of the company’s stock valued at $5,120,000 after buying an additional 768 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Copart by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,008 shares of the company’s stock valued at $1,667,000 after buying an additional 826 shares in the last quarter. Institutional investors own 79.89% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Copart Inc. (CPRT) to Post Q2 2017 Earnings of $0.57 Per Share, Northcoast Research Forecasts” was first posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of international copyright & trademark law. The correct version of this story can be viewed at http://www.dailypolitical.com/2016/11/29/copart-inc-cprt-to-post-q2-2017-earnings-of-0-57-per-share-northcoast-research-forecasts.html.

In related news, CEO A Jayson Adair sold 200,000 shares of Copart stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $10,722,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William E. Franklin sold 100,000 shares of Copart stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $52.95, for a total value of $5,295,000.00. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

About Copart

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

5 Day Chart for NASDAQ:CPRT

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