Copart, Inc. (NASDAQ: CPRT) Could Post Excellent Profits?

In the last trading session, 4.16 million shares of the Copart, Inc. (NASDAQ:CPRT) were traded, and its beta was 1.22. Most recently the company’s share price was $58.07, and it changed around $0.15 or 0.26% from the last close, which brings the market valuation of the company to $55.83B. CPRT currently trades at a discount to its 52-week high of $58.15, offering almost -0.14% off that amount. The share price’s 52-week low was $36.63, which indicates that the current value has risen by an impressive 36.92% since then. We note from Copart, Inc.’s average daily trading volume that its 10-day average is 4.87 million shares, with the 3-month average coming to 4.80 million.

Copart, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended CPRT as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Copart, Inc. is expected to report earnings per share of $0.38 for the current quarter.

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Copart, Inc. (NASDAQ:CPRT) trade information

Instantly CPRT has showed a green trend with a performance of 0.26% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 18.51% year-to-date, but still up 1.15% over the last five days. On the other hand, Copart, Inc. (NASDAQ:CPRT) is 9.26% up in the 30-day period. We can see from the shorts that 13.18 million shares have been sold at a short interest cover period of 2.1 day(s).

The consensus price target as assigned by Wall Street analysts is $26.33, which translates to bulls needing to decrease their stock price by -120.55% from its current value. Analyst projections state that CPRT is forecast to be at a low of $18.5 and a high of $33.

Copart, Inc. (CPRT) estimates and forecasts

Copart, Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 33.71 percent over the past six months and at a 12.70% annual growth rate that is well below the industry average of 23.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 5.60% in revenue this quarter, and will report an increase of 8.80% in the next quarter. The year-over-year growth rate is expected to be 9.30%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $1.1 billion in revenue for the current quarter. 5 analysts expect Copart, Inc. to make $1.07 billion in revenue for the quarter ending Jul 2024. The company’s sales for the same quarters a year ago were $1.02 billion and $997.59 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 8.10%. Forecasts for the next quarter put sales growth at 7.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 24.28%. Copart, Inc. earnings are expected to increase by 14.27% in 2024, but the outlook is positive 22.30% per year for the next five years.

CPRT Dividends

Copart, Inc.’s next quarterly earnings report is expected to be released around May 15 and May 20.

Copart, Inc. (NASDAQ:CPRT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 9.21% of Copart, Inc. shares, and 83.50% of them are in the hands of institutional investors. The stock currently has a share float of 91.96%. Copart, Inc. stock is held by 1,453 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 10.16% of the shares, which is about 97.24 million shares worth $4.43 billion.

Blackrock Inc., with 8.25% or 79.0 million shares worth $3.6 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Principal Mid Cap Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 26.73 million shares worth $1.22 billion, making up 2.79% of all outstanding shares. On the other hand, Principal Mid Cap Fund held roughly 23.85 million shares worth around $1.05 billion, which represents about 2.49% of the total shares outstanding.