Stock Alert: Copart Drops 9%

(RTTNews) - Shares of online vehicle auctions company Copart, Inc. (CPRT) are falling more than 9% on Thursday morning after second-quarter earnings missed estimates.

The stock gapped down more than 7% today morning and is currently trading at $91.30. CPRT has traded in the range of $51.99-$104.88 in the past one year.

EPS in the third quarter was $0.71 compared with $0.55 in the same quarter a year ago. Excluding items, adjusted EPS of $0.65 missed average estimates of analysts polled by Thomson Reuters by $0.01.

Revenue, increased 18.6% year-over-year to $575.1 million but missed estimates of $576.04 million.