Copart (NASDAQ:CPRT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Copart (NASDAQ:CPRT) issued its quarterly earnings results on Thursday. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02, Zacks reports. Copart had a return on equity of 18.96% and a net margin of 31.92%.

Copart Stock Performance

Shares of NASDAQ CPRT traded down $1.52 during mid-day trading on Thursday, reaching $58.22. The company had a trading volume of 7,519,750 shares, compared to its average volume of 3,439,117. Copart has a twelve month low of $48.05 and a twelve month high of $64.38. The stock’s 50 day moving average is $58.14 and its 200-day moving average is $55.59. The stock has a market capitalization of $56.10 billion, a PE ratio of 41.00 and a beta of 1.33.

Wall Street Analyst Weigh In

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

Insider Activity at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% 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.