CarGurus Inc (NASDAQ:CARG) Expected to Announce Quarterly Sales of $154.60 Million

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Analysts expect CarGurus Inc (NASDAQ:CARG) to post $154.60 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for CarGurus’ earnings, with estimates ranging from $153.69 million to $155.80 million. CarGurus reported sales of $126.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.6%. The business is scheduled to report its next earnings results on Thursday, February 27th.

On average, analysts expect that CarGurus will report full year sales of $585.33 million for the current financial year, with estimates ranging from $584.45 million to $586.40 million. For the next financial year, analysts expect that the firm will report sales of $710.88 million, with estimates ranging from $700.40 million to $727.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CarGurus.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.10. The firm had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $147.99 million. CarGurus had a return on equity of 18.30% and a net margin of 7.44%. CarGurus’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share.

CARG has been the subject of a number of recent analyst reports. TheStreet raised CarGurus from a “d+” rating to a “c-” rating in a research report on Thursday, November 7th. Consumer Edge began coverage on CarGurus in a research report on Friday, August 2nd. They set an “overweight” rating for the company. Royal Bank of Canada lowered their price target on CarGurus to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, ValuEngine raised CarGurus from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.58.

CARG stock traded up $1.28 during midday trading on Thursday, hitting $39.68. 1,400,800 shares of the stock were exchanged, compared to its average volume of 1,030,718. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 2.76 and a beta of 1.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.85 and a current ratio of 2.85. CarGurus has a fifty-two week low of $28.65 and a fifty-two week high of $45.25. The stock’s 50-day moving average price is $32.70 and its 200-day moving average price is $34.70.

In other CarGurus news, insider Thomas Michael Caputo sold 5,301 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $38.00, for a total transaction of $201,438.00. Following the transaction, the insider now owns 92,758 shares in the company, valued at $3,524,804. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Langley Steinert sold 36,016 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $37.98, for a total value of $1,367,887.68. Following the transaction, the chief executive officer now owns 2,751,739 shares in the company, valued at approximately $104,511,047.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,473,954 shares of company stock valued at $49,085,553. 34.51% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of CarGurus by 10.1% during the second quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock worth $201,687,000 after purchasing an additional 512,647 shares in the last quarter. Capital Impact Advisors LLC acquired a new position in shares of CarGurus during the second quarter worth about $1,967,000. Janus Henderson Group PLC acquired a new position in shares of CarGurus during the second quarter worth about $203,000. Partners Capital Investment Group LLP lifted its stake in shares of CarGurus by 11.1% during the second quarter. Partners Capital Investment Group LLP now owns 196,297 shares of the company’s stock worth $7,088,000 after purchasing an additional 19,658 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of CarGurus during the third quarter worth about $296,000. Institutional investors own 66.14% 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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