Copart, Inc. (CPRT) Beats Stock Market Upswing: What Investors Need to Know
Copart, Inc. (CPRT) closed at $57.21 in the latest trading session, marking a +0.54% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.
The company's stock has climbed by 16.38% in the past month, exceeding the Business Services sector's gain of 5.27% and the S&P 500's gain of 5.11%.
The investment community will be paying close attention to the earnings performance of Copart, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.38, reflecting a 5.56% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.11 billion, indicating an 8.31% 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 $4.21 billion, signifying shifts of +12.7% and +8.74%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.07% downward. At present, Copart, Inc. boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Copart, Inc. is presently trading at a Forward P/E ratio of 40.07. This denotes no noticeable deviation relative to the industry's average Forward P/E of 40.07.
The Auction and Valuation Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 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.
To follow CPRT in the coming trading sessions, be sure to utilize Zacks.com.
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Copart, Inc. (CPRT) : Free Stock Analysis Report
