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Copart, Inc. (CPRT) Stock Sinks As Market Gains: Here's Why
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Copart, Inc. (CPRT - Free Report) ended the recent trading session at $29.57, demonstrating a -4.07% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.66%. At the same time, the Dow added 1.19%, and the tech-heavy Nasdaq gained 2.78%.
Heading into today, shares of the company had gained 7.05% over the past month, outpacing the Business Services sector's gain of 2.72% and the S&P 500's loss of 1.49%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. In that report, analysts expect Copart, Inc. to post earnings of $0.39 per share. This would mark a year-over-year decline of 4.88%. In the meantime, our current consensus estimate forecasts the revenue to be $1.14 billion, indicating a 1.23% growth compared to the corresponding quarter of the prior year.
CPRT's full-year Zacks Consensus Estimates are calling for earnings of $1.58 per share and revenue of $4.63 billion. These results would represent year-over-year changes of -0.63% and -0.37%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.13% downward. Copart, Inc. presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Copart, Inc. is presently trading at a Forward P/E ratio of 19.48. This indicates a discount in contrast to its industry's Forward P/E of 26.16.
The Auction and Valuation Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
View the Zacks #1 Rank List
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Copart, Inc. (CPRT) Stock Sinks As Market Gains: Here's Why
Copart, Inc. (CPRT - Free Report) ended the recent trading session at $29.57, demonstrating a -4.07% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.66%. At the same time, the Dow added 1.19%, and the tech-heavy Nasdaq gained 2.78%.
Heading into today, shares of the company had gained 7.05% over the past month, outpacing the Business Services sector's gain of 2.72% and the S&P 500's loss of 1.49%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. In that report, analysts expect Copart, Inc. to post earnings of $0.39 per share. This would mark a year-over-year decline of 4.88%. In the meantime, our current consensus estimate forecasts the revenue to be $1.14 billion, indicating a 1.23% growth compared to the corresponding quarter of the prior year.
CPRT's full-year Zacks Consensus Estimates are calling for earnings of $1.58 per share and revenue of $4.63 billion. These results would represent year-over-year changes of -0.63% and -0.37%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Copart, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.13% downward. Copart, Inc. presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Copart, Inc. is presently trading at a Forward P/E ratio of 19.48. This indicates a discount in contrast to its industry's Forward P/E of 26.16.
The Auction and Valuation Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.