Copart, Inc. (CPRT) Dips More Than Broader Market: What You Should Know
Copart, Inc. (CPRT) closed the most recent trading day at $48.04, moving -1.86% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.61%. On the other hand, the Dow registered a loss of 0.82%, and the technology-centric Nasdaq decreased by 2.23%.
The the stock of company has risen by 3.03% in the past month, leading the Business Services sector's gain of 1.82% and undershooting the S&P 500's gain of 3.28%.
Market participants will be closely following the financial results of Copart, Inc. in its upcoming release. The company is forecasted to report an EPS of $0.35, showcasing a 12.9% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.04 billion, indicating a 9.07% upward movement from the same quarter last year.
CPRT's full-year Zacks Consensus Estimates are calling for earnings of $1.45 per share and revenue of $4.24 billion. These results would represent year-over-year changes of +15.08% and +9.57%, respectively.
Any recent changes to analyst estimates for Copart, Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Copart, Inc. boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Copart, Inc. is holding a Forward P/E ratio of 33.76. This expresses no noticeable deviation compared to the average Forward P/E of 33.76 of 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 112, placing it within the top 45% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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
