CarGurus (NASDAQ:CARG) Lowered to Sell at BidaskClub

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BidaskClub lowered shares of CarGurus (NASDAQ:CARG) from a hold rating to a sell rating in a report released on Wednesday, BidAskClub reports.

Several other equities research analysts also recently issued reports on CARG. SunTrust Banks restated a buy rating and set a $54.00 target price on shares of CarGurus in a research report on Wednesday, June 12th. BTIG Research dropped their target price on CarGurus to $48.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Zacks Investment Research upgraded CarGurus from a hold rating to a strong-buy rating and set a $39.00 target price on the stock in a research report on Friday, August 9th. Benchmark restated a buy rating and set a $51.00 target price on shares of CarGurus in a research report on Friday, May 10th. Finally, TheStreet downgraded CarGurus from a c- rating to a d+ rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. CarGurus presently has an average rating of Buy and an average price target of $48.42.

NASDAQ:CARG opened at $31.21 on Wednesday. The company has a market cap of $4.13 billion, a P/E ratio of 54.75, a P/E/G ratio of 3.48 and a beta of 1.83. The stock’s fifty day moving average price is $35.48 and its two-hundred day moving average price is $37.80. CarGurus has a 1 year low of $30.22 and a 1 year high of $57.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.68 and a quick ratio of 2.68.

CarGurus (NASDAQ:CARG) last posted its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $145.03 million for the quarter, compared to the consensus estimate of $140.67 million. CarGurus had a return on equity of 17.12% and a net margin of 8.22%. The business’s quarterly revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, analysts expect that CarGurus will post 0.24 earnings per share for the current fiscal year.

In related news, Director Anastasios Parafestas sold 13,002 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.17, for a total value of $418,274.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kathleen Bender Patton sold 2,413 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $35.80, for a total value of $86,385.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,822,971 shares of company stock worth $101,219,941. Insiders own 34.51% of the company’s stock.

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of CarGurus by 4.1% during the first quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock worth $300,238,000 after purchasing an additional 295,775 shares during the period. Capital Impact Advisors LLC purchased a new stake in shares of CarGurus during the second quarter worth about $1,967,000. Menta Capital LLC purchased a new stake in shares of CarGurus during the first quarter worth about $453,000. Calamos Advisors LLC purchased a new stake in shares of CarGurus during the first quarter worth about $210,000. Finally, Norges Bank purchased a new stake in shares of CarGurus during the fourth quarter worth about $15,947,000. 75.46% of the stock is currently owned by hedge funds and other institutional investors.

About CarGurus

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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