Why Copart (CPRT) Stock Is Declining Today

NEW YORK (TheStreet) -- Shares of Copart Inc. (CPRT) are lower by 3.01% to $31.96 in mid-morning trading on Wednesday, after the company reported 2014 fourth quarter net income and revenue that missed analysts' expectations.

For the most recent quarter, the provider of online auctions and vehicle re-marketing services posted an increase in net income to $51 million, or 39 cents per share, compared to $41.3 million, or 32 cents per share, for the year ago quarter.

However, analysts polled by Thomson Reuters expected Copart to report earnings of 41 cents per share for the 2014 fourth quarter.

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Copart said revenue grew to $287.5 million, from $263.7 million for the 2013 fourth quarter, but analysts had forecast revenue of $291 million. 

Separately, TheStreet Ratings team rates COPART INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate COPART INC (CPRT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: CPRT Ratings Report

CPRT Chart CPRT data by YCharts

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