Copart, Inc. (CPRT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Copart, Inc. (CPRT) ended the recent trading session at $50.48, demonstrating a -0.84% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.3%.
Shares of the company have appreciated by 7.02% over the course of the past month, underperforming the Business Services sector's gain of 7.93% and outperforming the S&P 500's gain of 5.78%.
Analysts and investors alike will be keeping a close eye on the performance of Copart, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.35, reflecting a 12.9% increase from the same quarter last 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.
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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, there's been no change in the Zacks Consensus EPS estimate. Copart, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Copart, Inc. is presently trading at a Forward P/E ratio of 35.11. This represents no noticeable deviation compared to its industry's average Forward P/E of 35.11.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Copart, Inc. (CPRT) : Free Stock Analysis Report
