CarGurus Inc (NASDAQ:CARG) has earned a consensus rating of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.45.
Several research firms have commented on CARG. TheStreet raised shares of CarGurus from a “d+” rating to a “c-” rating in a report on Thursday, November 7th. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. JMP Securities reduced their target price on CarGurus to $50.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. BidaskClub raised shares of CarGurus from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC assumed coverage on shares of CarGurus in a research report on Thursday, September 12th. They issued a “hold” rating for the company.
Shares of CARG traded down $0.17 during trading hours on Friday, hitting $39.14. 22,789 shares of the stock were exchanged, compared to its average volume of 1,159,226. The firm has a market capitalization of $4.49 billion, a P/E ratio of 68.66, a price-to-earnings-growth ratio of 2.88 and a beta of 1.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.85. CarGurus has a fifty-two week low of $28.65 and a fifty-two week high of $45.25. The business has a 50-day moving average of $36.13 and a 200-day moving average of $34.71.
CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.10. CarGurus had a return on equity of 18.30% and a net margin of 7.44%. The business had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. As a group, analysts forecast that CarGurus will post 0.35 earnings per share for the current fiscal year.
In related news, Director Anastasios Parafestas sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $33.21, for a total value of $664,200.00. Also, CEO Langley Steinert sold 117,406 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $33.15, for a total value of $3,892,008.90. Over the last quarter, insiders have sold 1,599,039 shares of company stock valued at $55,867,229. 34.51% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its position in CarGurus by 49.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 23,868 shares of the company’s stock valued at $739,000 after purchasing an additional 7,934 shares during the period. Millennium Management LLC acquired a new stake in shares of CarGurus during the third quarter worth about $998,000. Squarepoint Ops LLC raised its stake in shares of CarGurus by 131.2% during the third quarter. Squarepoint Ops LLC now owns 22,192 shares of the company’s stock worth $687,000 after purchasing an additional 12,592 shares during the last quarter. California State Teachers Retirement System boosted its position in CarGurus by 1.2% during the third quarter. California State Teachers Retirement System now owns 115,676 shares of the company’s stock worth $3,580,000 after acquiring an additional 1,381 shares during the last quarter. Finally, HMI Capital LLC grew its holdings in CarGurus by 248.5% in the 3rd quarter. HMI Capital LLC now owns 4,357,679 shares of the company’s stock valued at $134,870,000 after buying an additional 3,107,349 shares during the period. Institutional investors and hedge funds own 79.93% of the company’s stock.
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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