CarGurus (NASDAQ:CARG) Upgraded to “C-” by TheStreet

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

A number of other equities research analysts also recently commented on CARG. ValuEngine upgraded CarGurus from a hold rating to a buy rating in a research report on Tuesday, August 6th. BidaskClub upgraded CarGurus from a hold rating to a buy rating in a research report on Saturday, October 26th. Royal Bank of Canada reduced their target price on CarGurus to $50.00 and set an outperform rating on the stock in a research report on Wednesday. Zacks Investment Research downgraded CarGurus from a buy rating to a hold rating in a research report on Thursday. Finally, Needham & Company LLC began coverage on CarGurus in a report on Thursday, September 12th. They issued a hold rating on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $47.58.

NASDAQ CARG traded up $0.21 on Thursday, hitting $37.80. The company had a trading volume of 770,500 shares, compared to its average volume of 879,401. CarGurus has a 12-month low of $28.65 and a 12-month high of $45.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $4.47 billion, a PE ratio of 66.32, a PEG ratio of 3.32 and a beta of 1.88. The company’s fifty day moving average price is $31.94 and its 200-day moving average price is $34.67.

CarGurus (NASDAQ:CARG) last posted its earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.10. CarGurus had a return on equity of 18.91% and a net margin of 7.44%. The company had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, sell-side analysts anticipate that CarGurus will post 0.28 EPS for the current year.

In other CarGurus news, CEO Langley Steinert sold 130,456 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $34.23, for a total transaction of $4,465,508.88. Also, Director Anastasios Parafestas sold 13,002 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.17, for a total value of $418,274.34. The disclosure for this sale can be found here. Insiders sold a total of 1,294,107 shares of company stock worth $41,901,974 in the last quarter. Company insiders own 34.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in CarGurus by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 884,954 shares of the company’s stock worth $27,390,000 after purchasing an additional 21,255 shares during the period. Boston Advisors LLC boosted its stake in CarGurus by 19.4% in the third quarter. Boston Advisors LLC now owns 79,525 shares of the company’s stock valued at $2,461,000 after acquiring an additional 12,928 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in CarGurus by 208.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,114 shares of the company’s stock valued at $34,000 after acquiring an additional 753 shares during the last quarter. Renaissance Group LLC bought a new position in CarGurus in the third quarter valued at approximately $443,000. Finally, Oppenheimer & Co. Inc. bought a new position in CarGurus in the third quarter valued at approximately $232,000. Institutional investors own 66.10% of the company’s stock.

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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