Copart, Inc. (CPRT) closed at $33.87 in the latest trading session, marking a +1.44% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.38%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.13%.
Shares of the company witnessed a gain of 0.66% over the previous month, trailing the performance of the Business Services sector with its gain of 4.25%, and the S&P 500's gain of 11.41%.
The upcoming earnings release of Copart, Inc. will be of great interest to investors. The company is expected to report EPS of $0.42, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 1.6% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.58 per share and a revenue of $4.65 billion, indicating changes of -0.63% and -0.03%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Copart, Inc. These recent revisions tend to reflect the evolving nature of short-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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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).
Looking at valuation, Copart, Inc. is presently trading at a Forward P/E ratio of 21.08. For comparison, its industry has an average Forward P/E of 26.21, which means Copart, Inc. is trading at a discount to the group.
The Auction and Valuation Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Copart, Inc. (CPRT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).