Jefferies Financial Group Comments on Copart, Inc.’s Q1 2022 Earnings (NASDAQ:CPRT)

Copart, Inc. (NASDAQ:CPRT) – Investment analysts at Jefferies Financial Group increased their Q1 2022 earnings per share (EPS) estimates for Copart in a report released on Thursday, September 9th. Jefferies Financial Group analyst B. Jordan now anticipates that the business services provider will earn $0.98 per share for the quarter, up from their previous forecast of $0.93. Jefferies Financial Group also issued estimates for Copart’s Q2 2022 earnings at $1.02 EPS, Q3 2022 earnings at $1.12 EPS, Q4 2022 earnings at $0.99 EPS, FY2022 earnings at $4.11 EPS, Q1 2023 earnings at $1.06 EPS, Q2 2023 earnings at $1.09 EPS, Q3 2023 earnings at $1.24 EPS and Q4 2023 earnings at $1.12 EPS.

Several other brokerages also recently commented on CPRT. Barrington Research restated a “market perform” rating on shares of Copart in a research report on Wednesday, September 8th. Truist Securities lifted their price objective on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, August 31st. Truist lifted their price target on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Finally, Robert W. Baird boosted their price objective on shares of Copart from $130.00 to $150.00 and gave the company an “average” rating in a research report on Friday, September 10th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Copart has a consensus rating of “Buy” and an average target price of $143.83.

Shares of CPRT stock opened at $144.59 on Monday. Copart has a 12-month low of $100.07 and a 12-month high of $149.07. The company has a current ratio of 4.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $143.04 and its 200 day moving average is $128.36. The stock has a market capitalization of $34.21 billion, a P/E ratio of 37.17 and a beta of 1.03.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, September 7th. The business services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. Copart had a net margin of 34.78% and a return on equity of 28.62%. The firm had revenue of $748.63 million for the quarter, compared to analysts’ expectations of $686.93 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 42.4% on a year-over-year basis.

In other Copart news, CEO Jeffrey Liaw sold 47,479 shares of the firm’s stock in a transaction that occurred on Friday, July 2nd. The shares were sold at an average price of $135.28, for a total transaction of $6,422,959.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO A Jayson Adair sold 300,000 shares of Copart stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $133.18, for a total transaction of $39,954,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 573,293 shares of company stock valued at $77,786,349. 12.61% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its position in shares of Copart by 11.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 688 shares of the business services provider’s stock worth $91,000 after purchasing an additional 70 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Copart by 2.0% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,591 shares of the business services provider’s stock worth $473,000 after buying an additional 72 shares in the last quarter. K.J. Harrison & Partners Inc raised its stake in Copart by 0.4% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 18,075 shares of the business services provider’s stock valued at $2,385,000 after purchasing an additional 75 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Copart by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,084 shares of the business services provider’s stock valued at $3,439,000 after purchasing an additional 75 shares during the last quarter. Finally, BancorpSouth Bank raised its stake in Copart by 1.7% in the 2nd quarter. BancorpSouth Bank now owns 4,734 shares of the business services provider’s stock valued at $625,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

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 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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Earnings History and Estimates for Copart (NASDAQ:CPRT)

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