Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut CarGurus from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. TheStreet raised CarGurus from a “d+” rating to a “c-” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their target price on CarGurus to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. CarGurus currently has an average rating of “Buy” and a consensus price target of $48.70.
CarGurus stock traded up $0.84 during mid-day trading on Tuesday, reaching $36.85. The stock had a trading volume of 249,468 shares, compared to its average volume of 676,783. 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 simple moving average is $36.97 and its 200-day simple moving average is $34.87. The firm has a market capitalization of $3.97 billion, a PE ratio of 64.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.88.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings data 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 18.30% and a net margin of 7.44%. The firm had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $147.99 million. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, research analysts forecast that CarGurus will post 0.35 earnings per share for the current fiscal year.
In other CarGurus news, Director Ian G. Smith sold 30,315 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $40.21, for a total value of $1,218,966.15. Following the sale, the director now directly owns 107,278 shares in the company, valued at $4,313,648.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anastasios Parafestas sold 35,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $32.94, for a total value of $1,152,900.00. Insiders have sold 1,136,893 shares of company stock worth $42,589,199 over the last quarter. 34.51% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of CARG. HMI Capital LLC raised its stake in shares of CarGurus by 248.5% in the third 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. BlackRock Inc. raised its stake in shares of CarGurus by 46.1% during the 2nd quarter. BlackRock Inc. now owns 5,176,925 shares of the company’s stock valued at $186,939,000 after purchasing an additional 1,632,759 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of CarGurus during the 2nd quarter valued at $26,835,000. Voya Investment Management LLC raised its stake in shares of CarGurus by 2,004.0% during the 3rd quarter. Voya Investment Management LLC now owns 606,912 shares of the company’s stock valued at $18,784,000 after purchasing an additional 578,066 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of CarGurus by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock valued at $201,687,000 after purchasing an additional 512,647 shares during the period. Hedge funds and other institutional investors own 79.90% of the company’s stock.
CarGurus Company Profile
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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