Copart, Inc. (CPRT) Gains But Lags Market: What You Should Know
In the latest trading session, Copart, Inc. (CPRT) closed at $48.70, marking a +1.1% move from the previous day. This change lagged the S&P 500's 1.23% gain on the day. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
Shares of the company witnessed a loss of 0.5% over the previous month, trailing the performance of the Business Services sector with its loss of 0.21% and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of Copart, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.35, up 12.9% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.04 billion, indicating a 9.07% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.45 per share and a revenue of $4.24 billion, signifying shifts of +15.08% and +9.57%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant. As of now, Copart, Inc. holds a Zacks Rank of #2 (Buy).
In terms of valuation, Copart, Inc. is currently trading at a Forward P/E ratio of 33.22. Its industry sports an average Forward P/E of 33.22, so one might conclude that Copart, Inc. is trading at no noticeable deviation comparatively.
The Auction and Valuation Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Copart, Inc. (CPRT) : Free Stock Analysis Report
