Q1 2018 EPS Estimates for Copart, Inc. (CPRT) Cut by Jefferies Group
Copart, Inc. (NASDAQ:CPRT) – Jefferies Group dropped their Q1 2018 earnings per share (EPS) estimates for Copart in a research report issued to clients and investors on Wednesday. Jefferies Group analyst B. Jordan now expects that the business services provider will post earnings per share of $0.24 for the quarter, down from their previous forecast of $0.33. Jefferies Group has a “Hold” rating and a $33.00 price target on the stock. Jefferies Group also issued estimates for Copart’s Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.38 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.45 EPS and Q4 2019 earnings at $0.40 EPS.
Several other research analysts also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
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Copart (NASDAQ CPRT) opened at 33.74 on Friday. Copart has a 12 month low of $24.91 and a 12 month high of $34.03. The stock’s 50 day moving average is $31.93 and its 200 day moving average is $36.82. The company has a market cap of $7.77 billion, a PE ratio of 20.33 and a beta of 1.19.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. bought a new position in shares of Copart during the 2nd quarter worth about $100,000. Salem Investment Counselors Inc. increased its holdings in shares of Copart by 100.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock worth $130,000 after purchasing an additional 2,047 shares during the period. Parallel Advisors LLC increased its holdings in shares of Copart by 115.6% during the 1st quarter. Parallel Advisors LLC now owns 4,340 shares of the business services provider’s stock worth $131,000 after purchasing an additional 2,327 shares during the period. Smithfield Trust Co. increased its holdings in shares of Copart by 104.8% during the 2nd quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,749 shares during the period. Finally, Huntington National Bank increased its holdings in shares of Copart by 136.5% during the 2nd quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock worth $179,000 after purchasing an additional 3,249 shares during the period. Institutional investors own 79.74% of the company’s stock.
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.
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