Copart, Inc. (CPRT) closed the most recent trading day at $40.37, moving -2.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.41%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq added 0.91%.
Prior to today's trading, shares of the company had gained 5.19% outpaced the Business Services sector's loss of 4.89% and the S&P 500's gain of 0.38%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. On that day, Copart, Inc. is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 2.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.17 billion, up 0.41% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.64 per share and revenue of $4.71 billion. These totals would mark changes of +3.14% and +1.31%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Copart, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Copart, Inc. boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Copart, Inc. is currently exchanging hands at a Forward P/E ratio of 25.33. This represents no noticeable deviation compared to its industry average Forward P/E of 25.33.
The Auction and Valuation Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Copart, Inc. (CPRT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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