Copart, Inc. [NASDAQ: CPRT] traded at a high on Monday, posting a 2.18 gain after which it closed the day’ session at $52.50. The company report on February 22, 2024 at 4:15 PM that Copart Reports Second Quarter Fiscal 2024 Financial Results.
Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2024.
For the three months ended January 31, 2024, revenue, gross profit, and net income attributable to Copart Inc. were $1.02 billion, $464.2 million, and $325.6 million, respectively. These represent an increase in revenue of $63.4 million, or 6.6%; an increase in gross profit of $37.7 million, or 8.8%; and an increase in net income attributable to Copart Inc. of $32.0 million, or 10.9%, respectively, from the same period last year. Fully diluted earnings per share for the three months were $0.33 compared to $0.30 last year, an increase of 10.0%.
The results of the trading session contributed to over 9424921 shares changing hands. Over the past one week, the price volatility of Copart, Inc. stands at 2.84% while the volatility over the past one month is 2.04%.
The market cap for CPRT stock reached $50.41 billion, with 957.34 million shares outstanding and 871.64 million shares in the current float. Compared to the average trading volume of 4.39M shares, CPRT reached a trading volume of 9424921 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Copart, Inc. [CPRT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPRT shares is $56.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPRT stock is a recommendation set at 2.08. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
HSBC Securities have made an estimate for Copart, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 04, 2023. While these analysts kept the previous recommendation, Argus raised their target price to Buy. The new note on the price target was released on September 08, 2023, representing the official price target for Copart, Inc. stock. On February 12, 2021, analysts increased their price target for CPRT shares from 122 to 140.
The Average True Range (ATR) for Copart, Inc. is set at 1.08, with the Price to Sales ratio for CPRT stock in the period of the last 12 months amounting to 12.42. The Price to Book ratio for the last quarter was 7.86, with the Price to Cash per share for the same quarter was set at 2.78. Price to Free Cash Flow for CPRT in the course of the last twelve months was 58.88 with Quick ratio for the last quarter at 6.78.
How has CPRT stock performed recently?
Copart, Inc. [CPRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.23. With this latest performance, CPRT shares gained by 7.16% in over the last four-week period, additionally plugging by 21.98% over the last 6 months – not to mention a rise of 50.86% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPRT stock in for the last two-week period is set at 67.74, with the RSI for the last a single of trading hit 72.99, and the three-weeks RSI is set at 64.36 for Copart, Inc. [CPRT]. The present Moving Average for the last 50 days of trading for this stock 48.90, while it was recorded at 50.14 for the last single week of trading, and 46.00 for the last 200 days.
Copart, Inc. [CPRT]: Deeper insight into the fundamentals
Copart, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.78 and a Current Ratio set at 6.86.
Earnings analysis for Copart, Inc. [CPRT]
With the latest financial reports released by the company, Copart, Inc. posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Copart, Inc. go to 22.30%.
Insider trade positions for Copart, Inc. [CPRT]
The top three institutional holders of CPRT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CPRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CPRT stock with ownership which is approximately 5.8325%.
