Copart (NASDAQ:CPRT) Announces Earnings Results

Copart (NASDAQ:CPRT) issued its quarterly earnings results on Thursday. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Down 2.5 %

Copart stock 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. The firm has a market cap of $56.10 billion, a price-to-earnings ratio of 41.00 and a beta of 1.33. The company has a 50 day moving average of $58.14 and a 200-day moving average of $55.59. Copart has a 52 week low of $48.05 and a 52 week high of $64.38.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised 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.

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.