Here's Why Copart, Inc. (CPRT) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Copart, Inc. (CPRT)
Based in Dallas, TX, Copart, Inc. was founded in 1982. The company provides online auctions and a wide range of remarketing services to process and sell salvage and clean-title vehicles. This is done mainly over the Internet, through its Virtual Bidding Third Generation (VB3) Internet auction-style sales technology. Sellers are primarily insurance companies, banks and financial institutions, charities, car dealerships, fleet operators and vehicle rental companies. Buyers include licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters, along with the general public.
CPRT sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 15.1% and 9.6% year-over-year, respectively.
Four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $1.45 per share for 2024. CPRT boasts an average earnings surprise of 10.3%.
Looking at cash flow, Copart, Inc. is expected to report cash flow growth of 13.2% this year; CPRT has generated cash flow growth of 22.7% over the past three to five years.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, CPRT should be on investors' short lists.
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
