NEW YORK (TheStreet) -- Shares of Copart (CPRT) - Get Report are climbing 9.59% to $48.13 on heavy trading volume Thursday afternoon after the Dallas-based company reported better-than-expected results for the 2016 fiscal third quarter.
After yesterday's market close, the provider of online salvage and insurance auto auctions posted earnings of 64 cents per diluted share, beating analysts' expectations of 54 cents per share.
Revenue rose 16.9% to $347.2 million from last year and was above analysts' projections of $321.2 million.
About 1.65 million of the company's shares were traded so far today vs. its average volume of 510,442 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and impressive record of earnings per share growth.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CPRT