CarGurus Inc (NASDAQ:CARG) has received an average recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $48.45.
Several brokerages recently issued reports on CARG. JMP Securities cut their price target on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. TheStreet upgraded shares of CarGurus from a “d+” rating to a “c-” rating in a research report on Thursday, November 7th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, BidaskClub upgraded CarGurus from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 13th.
In related news, General Counsel Kathleen Bender Patton sold 2,008 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $35.60, for a total transaction of $71,484.80. Also, Director Anastasios Parafestas sold 44,777 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $39.82, for a total transaction of $1,783,020.14. Following the transaction, the director now owns 10,618 shares of the company’s stock, valued at approximately $422,808.76. The disclosure for this sale can be found here. Insiders sold 1,599,039 shares of company stock valued at $55,867,229 in the last quarter. Corporate insiders own 34.51% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of CarGurus by 10.1% in the second 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. Janus Henderson Group PLC acquired a new position in shares of CarGurus during the 2nd quarter worth approximately $203,000. Partners Capital Investment Group LLP raised its stake in CarGurus by 11.1% in the 2nd quarter. Partners Capital Investment Group LLP now owns 196,297 shares of the company’s stock valued at $7,088,000 after acquiring an additional 19,658 shares during the period. Raymond James Trust N.A. bought a new stake in CarGurus in the 3rd quarter valued at $296,000. Finally, Comerica Bank lifted its holdings in CarGurus by 4.3% during the 3rd quarter. Comerica Bank now owns 19,448 shares of the company’s stock valued at $628,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 79.93% of the company’s stock.
Shares of CarGurus stock traded down $0.17 during midday trading on Friday, hitting $39.14. 22,789 shares of the company were exchanged, compared to its average volume of 1,159,226. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.85. The firm has a market cap of $4.49 billion, a P/E ratio of 68.66, a PEG ratio of 2.88 and a beta of 1.96. CarGurus has a 52 week low of $28.65 and a 52 week high of $45.25. The firm has a 50 day simple moving average of $36.13 and a 200-day simple moving average of $34.71.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.10. CarGurus had a return on equity of 18.30% and a net margin of 7.44%. The firm had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $147.99 million. During the same period in the prior year, the business posted $0.08 earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts expect that CarGurus will post 0.35 earnings per share for the current year.
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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