In the latest market close, Copart, Inc. (CPRT) reached $53.63, with a -0.41% movement compared to the previous day. This change lagged the S&P 500's 0.08% gain on the day. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.52%.
Coming into today, shares of the company had lost 7.51% in the past month. In that same time, the Business Services sector lost 9.22%, while the S&P 500 lost 7.33%.
Analysts and investors alike will be keeping a close eye on the performance of Copart, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.42, showcasing a 7.69% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.24 billion, reflecting a 10.09% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.58 per share and a revenue of $4.74 billion, demonstrating changes of +12.86% and +11.86%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Copart, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.42% increase. Currently, Copart, Inc. is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Copart, Inc. is currently being traded at a Forward P/E ratio of 34.08. This denotes a discount relative to the industry's average Forward P/E of 34.1.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 3, positioning it in the top 2% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
