CarGurus (NASDAQ:CARG) Lifted to “C-” at TheStreet

TheStreet upgraded shares of CarGurus (NASDAQ:CARG) from a d+ rating to a c- rating in a research report report published on Thursday, TheStreetRatingsTable reports.

Several other research analysts also recently commented on CARG. JMP Securities reduced their price target on shares of CarGurus to $50.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. BidaskClub raised shares of CarGurus from a hold rating to a buy rating in a research note on Saturday, October 26th. ValuEngine raised shares of CarGurus from a hold rating to a buy rating in a research note on Tuesday, August 6th. Royal Bank of Canada reduced their price target on shares of CarGurus to $50.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of CarGurus from a buy rating to a hold rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $47.58.

Shares of NASDAQ:CARG traded up $0.21 during midday trading on Thursday, reaching $37.80. 770,500 shares of the company were exchanged, compared to its average volume of 879,401. The stock has a market cap of $4.47 billion, a PE ratio of 66.32, a price-to-earnings-growth ratio of 3.32 and a beta of 1.88. CarGurus has a one year low of $28.65 and a one year high of $45.25. The business’s fifty day moving average is $31.94 and its two-hundred day moving average is $34.67. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.10. The company had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. CarGurus had a net margin of 7.44% and a return on equity of 18.91%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. As a group, sell-side analysts expect that CarGurus will post 0.28 EPS for the current year.

In other news, Director Anastasios Parafestas sold 15,206 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.62, for a total value of $541,637.72. Also, COO Samuel Zales sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $35.63, for a total transaction of $641,340.00. Insiders have sold a total of 1,294,107 shares of company stock worth $41,901,974 in the last three months. Insiders own 34.51% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CarGurus by 10.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock valued at $201,687,000 after buying an additional 512,647 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of CarGurus by 46.1% in the 2nd quarter. BlackRock Inc. now owns 5,176,925 shares of the company’s stock valued at $186,939,000 after buying an additional 1,632,759 shares in the last quarter. HMI Capital LLC bought a new stake in shares of CarGurus in the 2nd quarter valued at about $45,149,000. Wells Fargo & Company MN boosted its holdings in shares of CarGurus by 93.4% in the 2nd quarter. Wells Fargo & Company MN now owns 891,158 shares of the company’s stock valued at $32,179,000 after buying an additional 430,302 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of CarGurus by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 884,954 shares of the company’s stock valued at $27,390,000 after buying an additional 21,255 shares in the last quarter. Institutional investors and hedge funds own 66.10% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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