CarGurus (NASDAQ:CARG) Rating Increased to C- at TheStreet

CarGurus (NASDAQ:CARG) was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating in a report released on Thursday, TheStreetRatingsTable reports.

CARG has been the topic of several other research reports. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut CarGurus from a “buy” rating to a “hold” rating in a research report on Thursday. Consumer Edge initiated coverage on CarGurus in a research report on Friday, August 2nd. They issued an “overweight” rating on the stock. Needham & Company LLC initiated coverage on CarGurus in a research report on Thursday, September 12th. They issued a “hold” rating on the stock. Finally, BidaskClub upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $47.58.

Shares of CARG traded up $0.21 during midday trading on Thursday, hitting $37.80. 770,500 shares of the stock were exchanged, compared to its average volume of 879,401. The firm has a market cap of $4.47 billion, a P/E ratio of 66.32, a P/E/G ratio of 3.32 and a beta of 1.88. CarGurus has a 52-week low of $28.65 and a 52-week high of $45.25. The stock has a fifty day simple moving average of $31.94 and a 200 day simple moving average of $34.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.68.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.10. The firm had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $147.99 million. CarGurus had a return on equity of 18.91% and a net margin of 7.44%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, equities research analysts forecast that CarGurus will post 0.28 EPS for the current fiscal year.

In other CarGurus news, insider Sarah Amory Welch sold 2,500 shares of CarGurus stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.61, for a total value of $79,025.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Kathleen Bender Patton sold 2,008 shares of CarGurus stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.60, for a total value of $71,484.80. Insiders sold a total of 1,294,107 shares of company stock worth $41,901,974 in the last ninety days. 34.51% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CARG. BlackRock Inc. boosted 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 worth $186,939,000 after acquiring an additional 1,632,759 shares in the last quarter. HMI Capital LLC purchased a new stake in shares of CarGurus during the 2nd quarter worth approximately $45,149,000. Nuveen Asset Management LLC purchased a new stake in shares of CarGurus during the 2nd quarter worth approximately $26,835,000. Vanguard Group Inc. boosted 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 worth $201,687,000 after acquiring an additional 512,647 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of CarGurus by 93.4% during the 2nd quarter. Wells Fargo & Company MN now owns 891,158 shares of the company’s stock worth $32,179,000 after acquiring an additional 430,302 shares in the last quarter. 66.10% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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