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

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

Copart Trading Down 2.5 %

Shares of CPRT traded down $1.52 on Thursday, reaching $58.22. The company’s stock had a trading volume of 7,519,749 shares, compared to its average volume of 3,438,968. Copart has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a fifty day moving average of $58.14 and a 200-day moving average of $55.59. The stock has a market capitalization of $56.10 billion, a PE ratio of 41.00 and a beta of 1.33.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Copart Company Profile

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.