Copart shares fall on lower Q4 profit
05/09/2024 11:54
** Shares of online vehicle auction services provider Copart
CPRT.O fall 6% to $50 premarket
** CPRT, after market on Wednesday, posted Q4 net income of
$322.6 mln, or $0.33/shr, down from $347.8 million, or
$0.36/shr, a year earlier
** Q4 total revenue, however, up 7.2% at $1.07 billion,
bolstered by healthy salvage auction volumes
** Seven of 11 brokerages rate the stock "buy" or higher and
four "hold"; median PT is $60.17 - LSEG data
** As of last close, stock up 8.27% YTD
(Reporting by Anshuman Tripathy in Bengaluru)
((Anshuman.Tripathy@thomsonreuters.com;))