Copart (NASDAQ:CPRT) Posts Earnings Results

Copart (NASDAQ:CPRT) posted its earnings results on Wednesday. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03), Briefing.com reports. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $0.34 EPS. The firm’s revenue was up 7.2% on a year-over-year basis.

Copart Stock Down 0.7 %

Copart stock opened at $49.15 on Friday. The company has a market capitalization of $47.30 billion, a P/E ratio of 34.87 and a beta of 1.27. The stock’s 50 day moving average is $52.39 and its 200 day moving average is $53.81. Copart has a twelve month low of $42.41 and a twelve month high of $58.58.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.00.

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.