Copart (CPRT) announced its most recent quarterly financial results on Tuesday, Sep-20-2016. CPRT said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.55. The company posted revenue of $332.70 million in the period, compared to analysts expectations of $317.98 million. CPRT’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Copart. Susquehanna Initiated Copart on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $53.Copart was Downgraded by Northcoast to ” Neutral” on Aug 25, 2016.
Copart closed down -0.25 points or -0.50% at $50.06 with 919,848 shares getting traded on Friday. Post opening the session at $50.1, the shares hit an intraday low of $49.81 and an intraday high of $50.43 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 15, 2016, Robert H. Vannuccini (Senior Vice President, Sales) sold 12,577 shares at $49.96 per share price. According to the SEC, on Jul 6, 2016, Paul A Styer (Sr VP, Secretary, Gen Csl) sold 7,640 shares at $49.26 per share price. On Jun 1, 2016, Steven D Cohan (director) sold 160,000 shares at $48.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Copart Inc. is a provider of online auctions and vehicle remarketing services in the United States Canada the United Kingdom the United Arab Emirates Oman Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3). It sells vehicles primarily to insurance companies and also to banks and financial institutions charities car dealerships fleet operators and vehicle rental companies. It sells the vehicles to licensed vehicle dismantlers rebuilders repair licensees used vehicle dealers and exporters and at certain locations to the general public. The Company that sells vehicles on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies or are recovered stolen vehicles.