Copart, Inc. (CPRT) Beats Stock Market Upswing: What Investors Need to Know
Copart, Inc. (CPRT) closed the latest trading day at $48.99, indicating a +0.7% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.
Prior to today's trading, shares of the company had lost 0.47% over the past month. This has lagged the Business Services sector's gain of 0.84% and the S&P 500's gain of 2.48% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Copart, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.35, up 12.9% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.04 billion, indicating a 9.07% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.45 per share and revenue of $4.24 billion, indicating changes of +15.08% and +9.57%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Copart, Inc. is currently a Zacks Rank #2 (Buy).
In terms of valuation, Copart, Inc. is presently being traded at a Forward P/E ratio of 33.55. This signifies no noticeable deviation in comparison to the average Forward P/E of 33.55 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 4, placing it within the top 2% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Copart, Inc. (CPRT) : Free Stock Analysis Report
