Copart, Inc. (CPRT Quick QuoteCPRT – Free Report) closed the latest trading day at $45.91, indicating a -0.04% change from the previous session’s end. This change lagged the S&P 500’s daily gain of 0.18%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.3%.
Shares of the company have appreciated by 2.45% over the course of the past month, underperforming the Business Services sector’s gain of 2.75% and the S&P 500’s gain of 3.08%.
Market participants will be closely following the financial results of Copart, Inc. in its upcoming release. The company is expected to report EPS of $0.32, up 23.08% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $977.79 million, indicating a 9.45% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.42 per share and a revenue of $4.17 billion, signifying shifts of +12.7% and +7.65%, respectively, from the last year.
Any recent changes to analyst estimates for Copart, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Copart, Inc. currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Copart, Inc. is at present trading with a Forward P/E ratio of 32.39. This signifies no noticeable deviation in comparison to the average Forward P/E of 32.39 for its industry.
The Auction and Valuation Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 1, placing it within the top 1% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.