The most recent trading session ended with Copart, Inc. (CPRT) standing at $60.80, reflecting a -0.41% shift from the previouse trading day's closing. This change was narrower than the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.95%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Shares of the company witnessed a gain of 12.6% over the previous month, beating the performance of the Business Services sector with its gain of 11.22% and the S&P 500's gain of 11.54%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.42, indicating a 7.69% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 10.09% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.58 per share and revenue of $4.74 billion, indicating changes of +12.86% and +11.86%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 38.64. For comparison, its industry has an average Forward P/E of 38.64, which means Copart, Inc. is trading at no noticeable deviation to the group.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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