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

Copart (NASDAQ:CPRT) announced its earnings results on Thursday. The business services provider reported $0.40 EPS for the quarter, topping 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 %

Copart stock traded down $1.52 during mid-day trading on Thursday, reaching $58.22. The company had a trading volume of 7,519,749 shares, compared to its average volume of 3,438,968. Copart has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The company has a market cap of $56.10 billion, a P/E ratio of 41.00 and a beta of 1.33. The business has a fifty day simple moving average of $58.14 and a 200 day simple moving average of $55.59.

Insider Buying and Selling at Copart

In other 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 transaction, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart 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 owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last quarter. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note 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.