Copart, Inc. (NASDAQ:CPRT) shares, rose in value, with the stock price down by -0.51% to the previous day’s close as strong demand from buyers drove the stock to $56.13.
Actively observing the price movement in the last trading, the stock closed the session at $56.42. The value of beta (5-year monthly) was 1.22 whereas the PE ratio was 40.18 over 12-month period. Referring to stock’s 52-week performance, its high was $56.96, and the low was $33.65. On the whole, CPRT has fluctuated by 14.04% over the past month.
With the market capitalization of Copart, Inc. currently standing at about $53.97 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 15, 2024 – May 20, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.38, which is expected to increase to $0.38 for fiscal year $1.44 and then to about $1.61 by fiscal year 2025. Data indicates that the EPS growth is expected to be 14.30% in 2025, while the next year’s EPS growth is forecast to be 11.80%.
Analysts have estimated the company’s revenue for the quarter at $1.1 billion, with a low estimate of $1.08 billion and a high estimate of $1.12 billion. According to the average forecast, sales growth in current quarter could jump up 8.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.22 billion, representing an increase of 9.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CPRT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.80, with the price of CPRT currently trading nearly 6.18% and 11.39% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 73.30, while the 7-day volatility ratio is showing 1.91% which for the 30-day chart, stands at 1.97%. Furthermore, Copart, Inc. (CPRT)’s beta value is 1.22, and its average true range (ATR) is 1.00.
A comparison of Copart, Inc. (CPRT) with its peers suggests the former has fared considerably weaker in the market. CPRT showed an intraday change of -0.51% in last session, and over the past year, it grew by 64.87%%.
Data on historical trading for Copart, Inc. (NASDAQ:CPRT) indicates that the trading volumes over the past 10 days have averaged 5.88 million and over the past 3 months, they’ve averaged 4.68 million. According to company’s latest data on outstanding shares, there are 957.34 million shares outstanding.
Nearly 9.21% of Copart, Inc.’s shares belong to company insiders and institutional investors own 81.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.46 million shares as on Feb 29, 2024, resulting in a short ratio of 1.78. According to the data, the short interest in Copart, Inc. (CPRT) stood at 0.88% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 7.8 million. The stock has risen by 14.55% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CPRT stock heading into the next quarter.
