Copart (CPRT) Rides On Network Expansions: Time To Buy?

On Dec 26, we issued an updated research report on Copart, Inc. (NASDAQ:CPRT) .

On Nov 21, Copart, which provides online auctions and vehicle remarketing services, reported adjusted earnings per share of 33 cents in first-quarter fiscal 2018 (ended Oct 31, 2017), beating the Zacks Consensus Estimate of 26 cents. The bottom line also improved 17.9% on a year-over-year basis. The company’s revenues increased 21.1% to $419.2 million from the year-ago quarter, surpassing the Zacks Consensus Estimate of $377.4 million.

The company is expanding its network of facilities to cope up with growing volumes. It is also expanding in a number of new markets. In mid-December, the company extended its location to northeast of Baton Rouge, LA. The expansion at Baton Rouge location is likely to help the company increase its presence in the south and offer more value to its customers. In November, the company expanded in Phoenix, AR. In September, the company expanded its online auctions base to Memphis, TN and Reno, NV.

Year to date, shares of Copart have outperformed the industry it belongs to. During this time period, shares of the company have returned 56.5% compared with the industry’s growth 26.9%.



Copart currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Other top-ranked automobile stocks in the same space are Allison Transmission Holdings, Inc. (NYSE:ALSN) , American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) and Oshkosh Corporation (NYSE:OSK) , each sporting a Zacks Rank #1.

Allison Transmission has a long-term growth rate of 10%. The company’s shares have gained 28.6% year to date.

American Axle & Manufacturing has a long-term growth rate of 8.1%. The company’s shares have gained 16.1% over the past six months.

Oshkosh Corporation has a long-term growth rate of 16.5%. Its shares have rallied 41.4% on a year-to-date basis.

Wall Street’s Next Amazon (NASDAQ:AMZN)

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>


American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report

Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report

Oshkosh Corporation (OSK): Free Stock Analysis Report

Copart, Inc. (CPRT): Free Stock Analysis Report

Original post

Zacks Investment Research