Copart, Inc. (CPRT) closed the most recent trading day at $33.25, moving +1.5% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 1.23%.
Shares of the company have depreciated by 3.9% over the course of the past month, underperforming the Business Services sector's loss of 3.89%, and the S&P 500's gain of 0.63%.
Analysts and investors alike will be keeping a close eye on the performance of Copart, Inc. in its upcoming earnings disclosure. In that report, analysts expect Copart, Inc. to post earnings of $0.42 per share. This would mark no growth from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.23 billion, showing a 1.6% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.58 per share and a revenue of $4.65 billion, demonstrating changes of -0.63% and -0.03%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Copart, Inc. is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Copart, Inc. is currently exchanging hands at a Forward P/E ratio of 20.68. This expresses a discount compared to the average Forward P/E of 22.84 of its industry.
The Auction and Valuation Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Copart, Inc. (CPRT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).