CarGurus Inc (NASDAQ:CARG) has received an average recommendation of “Buy” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $49.73.
Several brokerages recently issued reports on CARG. SunTrust Banks reissued a “buy” rating and set a $54.00 price objective on shares of CarGurus in a research note on Wednesday. Cowen began coverage on shares of CarGurus in a research note on Monday, May 20th. They set a “market perform” rating and a $42.00 price objective on the stock. BidaskClub downgraded shares of CarGurus from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. TheStreet downgraded shares of CarGurus from a “c-” rating to a “d+” rating in a research note on Tuesday, May 14th. Finally, Zacks Investment Research downgraded shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 15th.
Shares of CARG traded down $0.12 on Friday, hitting $35.36. 39,130 shares of the stock traded hands, compared to its average volume of 830,408. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 62.32, a PEG ratio of 6.87 and a beta of 1.95. CarGurus has a 1 year low of $30.29 and a 1 year high of $57.25.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $135.30 million for the quarter, compared to the consensus estimate of $129.54 million. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. The company’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities analysts expect that CarGurus will post 0.23 EPS for the current fiscal year.
In other news, CEO Langley Steinert sold 117,406 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $35.18, for a total value of $4,130,343.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Michael Caputo sold 5,353 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $41.33, for a total transaction of $221,239.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,274,724 shares of company stock worth $125,957,547. 34.51% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CARG. Hound Partners LLC grew its holdings in CarGurus by 61.5% during the 4th quarter. Hound Partners LLC now owns 5,532,298 shares of the company’s stock valued at $186,604,000 after purchasing an additional 2,106,372 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of CarGurus by 56.2% in the 1st quarter. Wellington Management Group LLP now owns 3,974,563 shares of the company’s stock worth $159,220,000 after purchasing an additional 1,429,467 shares during the last quarter. BlackRock Inc. grew its stake in shares of CarGurus by 20.8% in the 4th quarter. BlackRock Inc. now owns 3,790,254 shares of the company’s stock worth $127,846,000 after purchasing an additional 651,931 shares during the last quarter. Norges Bank acquired a new position in shares of CarGurus in the 4th quarter worth approximately $15,947,000. Finally, Deutsche Bank AG grew its stake in shares of CarGurus by 109.3% in the 4th quarter. Deutsche Bank AG now owns 661,143 shares of the company’s stock worth $22,299,000 after purchasing an additional 345,250 shares during the last quarter. 74.84% of the stock is owned by institutional investors.
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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