CarGurus Inc (NASDAQ:CARG) has earned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $49.22.
A number of research firms have issued reports on CARG. Royal Bank of Canada upped their target price on shares of CarGurus from $55.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, November 8th. BidaskClub downgraded shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. BTIG Research began coverage on shares of CarGurus in a research report on Tuesday, November 13th. They set a “buy” rating and a $48.00 target price on the stock. SunTrust Banks began coverage on shares of CarGurus in a research report on Monday, November 19th. They set a “buy” rating and a $49.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, November 14th.
In related news, CEO Langley Steinert sold 176,109 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $41.17, for a total value of $7,250,407.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anastasios Parafestas sold 2,700 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $42.56, for a total value of $114,912.00. The disclosure for this sale can be found here. Insiders sold a total of 1,742,602 shares of company stock worth $65,301,103 over the last quarter. 51.03% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new stake in CarGurus during the 4th quarter worth approximately $78,000. NEXT Financial Group Inc bought a new stake in CarGurus during the 3rd quarter worth approximately $206,000. CIBC Asset Management Inc bought a new stake in CarGurus during the 3rd quarter worth approximately $209,000. LPL Financial LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $234,000. Finally, United Services Automobile Association bought a new stake in CarGurus during the 3rd quarter worth approximately $240,000. 68.69% of the stock is owned by institutional investors and hedge funds.
CarGurus stock traded down $0.50 during trading hours on Friday, reaching $38.60. 761,698 shares of the company’s stock traded hands, compared to its average volume of 538,905. CarGurus has a fifty-two week low of $28.52 and a fifty-two week high of $57.25. The company has a market cap of $4.25 billion, a PE ratio of 321.67, a PEG ratio of 41.60 and a beta of 2.04.
CarGurus (NASDAQ:CARG) last released its earnings results on Wednesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The company had revenue of $119.04 million for the quarter, compared to the consensus estimate of $112.70 million. During the same period in the prior year, the company posted $0.02 EPS. The company’s revenue was up 43.4% compared to the same quarter last year. On average, research analysts expect that CarGurus will post 0.13 earnings per share for the current fiscal year.
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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