Copart (NASDAQ:CPRT) Posts Earnings Results, Beats Estimates By $0.02 EPS

Copart (NASDAQ:CPRT) posted its quarterly earnings data on Thursday. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02, Zacks reports. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%.

Copart Trading Down 2.8 %

CPRT traded down $1.61 on Friday, hitting $56.61. 7,227,988 shares of the stock traded hands, compared to its average volume of 3,178,587. The business has a fifty day moving average price of $57.97 and a two-hundred day moving average price of $55.65. The firm has a market capitalization of $54.55 billion, a PE ratio of 38.00 and a beta of 1.33. Copart has a 52 week low of $48.05 and a 52 week high of $64.38.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Insiders Place Their Bets

In other Copart news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

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.