In the latest close session, Copart, Inc. (CPRT) was down 2.15% at $41.93. This move lagged the S&P 500's daily gain of 0.37%. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 0.65%.
Shares of the company have depreciated by 3.12% over the course of the past month, outperforming the Business Services sector's loss of 5.75%, and lagging the S&P 500's gain of 0.95%.
The upcoming earnings release of Copart, Inc. will be of great interest to investors. On that day, Copart, Inc. is projected to report earnings of $0.4 per share, which would represent year-over-year growth of 8.11%. Alongside, our most recent consensus estimate is anticipating revenue of $1.19 billion, indicating a 3.35% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.68 per share and revenue of $4.87 billion, indicating changes of +5.66% and +6.04%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Copart, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.14% fall in the Zacks Consensus EPS estimate. Copart, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Copart, Inc. is holding a Forward P/E ratio of 25.51. This indicates a discount in contrast to its industry's Forward P/E of 31.8.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 18, positioning it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
