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Copart, Inc. (CPRT) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Copart, Inc. (CPRT - Free Report) closed at $49.18, marking a -0.97% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Coming into today, shares of the company had lost 8.78% in the past month. In that same time, the Business Services sector lost 4.16%, while the S&P 500 lost 5.85%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.37, signifying an 8.82% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.07 billion, reflecting a 7.4% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Copart, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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).
With respect to valuation, Copart, Inc. is currently being traded at a Forward P/E ratio of 30.91. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 30.91.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Copart, Inc. (CPRT) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Copart, Inc. (CPRT - Free Report) closed at $49.18, marking a -0.97% move from the previous day. This move lagged the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Coming into today, shares of the company had lost 8.78% in the past month. In that same time, the Business Services sector lost 4.16%, while the S&P 500 lost 5.85%.
Investors will be eagerly watching for the performance of Copart, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.37, signifying an 8.82% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.07 billion, reflecting a 7.4% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Copart, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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).
With respect to valuation, Copart, Inc. is currently being traded at a Forward P/E ratio of 30.91. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 30.91.
The Auction and Valuation Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.