Yahoo Finance Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Copart, Inc. (CPRT)
Based in Dallas, TX, Copart, Inc. was founded in 1982. The company provides online auction and a wide range of remarketing services to process and sell salvage and clean title vehicles. This is done mainly over the Internet, through its Virtual Bidding Third Generation (VB3) Internet auction-style sales technology. Sellers are primarily insurance companies, banks and financial institutions, charities, car dealerships, fleet operators, and vehicle rental companies. Buyers include licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters, along with the general public.
CPRT sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 5.4% and 8.7% year-over-year, respectively.
One analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $2.35 per share for 2023. CPRT boasts an average earnings surprise of 5.6%.
Copart, Inc. is also cash rich. The company has generated cash flow growth of 27.5%, and is expected to report cash flow expansion of 20% in 2023.
Investors should take the time to consider CPRT for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Copart, Inc. (CPRT) : Free Stock Analysis Report
