Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on COPART INC. We currently have 3 research reports from 1 professional analysts.
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Taking the temperature
08 Apr 16
We believe that the UK motor sector has had a strong Q1 2016, which should position most companies well for H1. Consumers are still responding well to attractive financing deals, and we anticipate a strong H1 performance from dealers as a result. Valuations amongst the dealer groups remain undemanding in our view, and we see scope for further consolidation during the coming year.
Signs of US consolidation in UK market
05 Feb 16
We note the acquisition of UK private company Spire Automotive by US listed Group 1 Automotive yesterday for an undisclosed sum. With US motor retailers seemingly struggling for growth and seeing more margin pressure, it will be interesting to see whether we see more transactions of this nature, particularly against a backdrop of a strengthening US dollar. Market conditions in the UK look to remain robust with UK new car sales for January the strongest since 2005, with residual values seemingly still robust. The sector remains good value to us, and looks like the dealers across the pond also see this too.
SMMT September data
06 Oct 15
The SMMT (Society of Motor Manufacturers and Traders) has released data for the key trading period of September this morning. The headline number has again come in at record levels, showing growth in private registrations vs. what was a strong prior year comparative. However, we do think there was an element of self-registration that took place here, with the fleet market again driving a significant proportion of the growth. The VW emission issue does represent some uncertainty for dealers as we move into Q4, but this is seasonally quiet anyway and we suspect dealer profitability will be intact for 2015
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced
Panmure Morning Note 19-01-2017
19 Jan 17
Pets at Home have released a Q3 trading update this morning that will disappoint the market. Group like-for-like revenue growth was just +0.1% through 3Q16 as subdued trading across the Merchandise business weighed on continued strong growth in Veterinary Services. Profit outlook for FY17 remains in line with expectations. Suspect the shares will come under pressure.
Panmure Morning Note 24-02-2017
24 Feb 17
Upgrades and increased shareholder returns were needed to justify the recent share price rally: they have been duly delivered and we expect a positive response today. FY16 was largely ‘in-line’ and initial FY17 comments, for operating profit growth YOY, are encouraging. Our initial estimate is for consensus upgrades of 5-10%. IAG has confirmed a €500m share buy-back programme, which was well flagged and we think in line with market expectations. Overall a welcome, slightly more positive read for the sector, particularly those with self-help levers. Presentation 9am GMT.
Acceptance of all-cash offer by Kindred Group
23 Feb 17
32Red has agreed an all cash takeover by Kindred, at 196p per share. Together with an approved 4p dividend, this represents a 32.4% premium to last month’s average. This equates to 10.6x EV/EBITDA and 14.3x P/E for 2017, a small premium to the larger peer group. Given 32Red’s brand strength, regulated bias and growth momentum, this appears justified.